What Is Whole Life Insurance?
Understanding Permanent Whole Life Insurance
Whole life insurance is a protection that’s built for you for the rest of your life and accrues a cash value.
In addition to providing a death benefit, a whole life insurance policy will accrue a cash value that can be used later for purpose like low interest loans. Whole life insurance policies are typically more expensive than term life insurance. Part of the premium payment goes towards funding the death benefit and the other part goes into the investment pool that builds the cash value.
“The best time to get whole life insurance is to lock in low rates when you’re young and healthy.”- Paul Cercy
Reasons to Buy Whole Life Insurance
There are many different reasons to buy whole life insurance. Buying whole life insurance is considered long-term financial legacy building, while term life insurance is built for short-term financial protection. Here are a few reasons to consider buying whole life insurance:
Get your quote!
Click the “Get My Quote” button for a fast digital quoting experience on my personal agent’s page powered by Ethos!
Only takes a few seconds!