Coverage Option

Whole Life Insurance

Permanent coverage designed to stay with you for life.

Whole life insurance is permanent coverage. As long as premiums are paid, the policy remains in force for the insured's lifetime. Whole life policies also build cash value over time, which the policy owner may be able to borrow against or access, subject to policy provisions.

Who it often fits

  • Clients who want coverage that will not expire
  • Estate and legacy planning
  • Covering final expenses along with a longer-term financial gift
  • Families insuring children or grandchildren early

How it works

  1. 1Premiums are generally level for life.
  2. 2A portion of each premium builds cash value on a schedule set by the contract.
  3. 3Loans or withdrawals against cash value reduce the death benefit until repaid.

Things to keep in mind

  • Premiums are higher than term for the same face amount.
  • Cash value growth takes time and is defined by the policy, not by market performance guarantees.
  • Policy loans accrue interest and can affect the benefit paid to your family.

There is no pressure here, and no obligation. But it is worth knowing that in life insurance, age and health matter: rates are based on how old you are and how you are doing today. Reviewing your options while you are feeling well generally keeps more choices open to you.

See What Whole Life Insurance Could Look Like for You

A few short questions, including a brief health questionnaire, so Justin knows which carriers to look at first.

Step 1 of 911%

What are you most interested in?

Get My Free Review