What is Whole Life Insurance?

Whole Life Insurance is a type of permanent life insurance that provides coverage for the insured's entire lifetime, as long as premiums are paid. It offers both a death benefit and a savings component, accumulating cash value over time.

Key Benefits:

• ✅ Lifetime coverage with guaranteed death benefit
• ✅ Builds cash value that grows tax-deferred
• ✅ Fixed premiums that do not increase over time
• ✅ Option to borrow against cash value
• ✅ Helps in estate planning and wealth transfer

Types of Whole Life Insurance:

• Traditional Whole Life: Offers fixed premiums, guaranteed cash value growth, and death benefits.
• Universal Whole Life: Provides flexible premiums and adjustable death benefits with cash value linked to interest rates.
• Variable Whole Life: Cash value is invested in sub-accounts similar to mutual funds, offering potential higher returns with higher risk.

Whole Life Insurance is suitable for those seeking lifelong protection combined with a savings component that can be used as a financial resource.