Benefits of Whole Life Insurance

Whole Life is a permanent program and does not expire as long as premiums are paid. Whole Life Insurance builds cash value; which is an asset for the owner of the policy and may be withdrawn to help with college costs, home improvements, medical bills, or other needs.  The consequences of making withdrawal must be reviewed with your agent so that unwanted situations or surprises do not occur. Whole Life Insurance has a “fixed” or guaranteed premium; therefore all future values such as cash value, death benefit, etc. can be calculated with much greater certainty than “flexible” (estimated/fluctuating) Universal Life Insurance premiums. Whole Life Insurance has a fixed interest rate; therefore future values can be calculated with much greater certainty than “flexible” (fluctuating interest rate) Universal Life. Whole Life Insurance has a fixed death benefit.