Whole Life Insurance

Whole Life Insurance is a permanent life insurance policy that provides coverage for the entire lifetime of the insured individual. Unlike term life insurance, which offers coverage for a specified term, whole life insurance combines a death benefit with a cash value component that grows over time. Premiums for whole life insurance remain level throughout the policyholder's life, offering stability and predictability. The cash value accrues on a tax-deferred basis and can be accessed by the policyholder through loans or withdrawals. Whole life insurance is designed to offer long-term financial protection and can serve as a valuable asset in estate planning, providing beneficiaries with a guaranteed payout upon the insured's passing while also building cash value over the years.