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.

Unlike term life insurance, which covers a specific period, whole life insurance offers lifelong protection.

It features fixed premiums, a guaranteed death benefit, and a cash value component that grows over time.

The cash value in a whole life insurance policy accumulates on a tax-deferred basis and can be accessed through loans or withdrawals, providing a financial resource for emergencies or other needs.

This makes whole life insurance not only a tool for ensuring financial security for your beneficiaries but also a potential source of funds during your lifetime.