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Whole life insurance means...
- Permanent protection that can never be canceled as long as you pay
your premiums.
- A level premium that is guaranteed never to increase.
- A guaranteed death benefit, generally free from federal income tax.
- Tax-deferred cash value accumulation.
- The potential to earn dividends. (Dividends are not guaranteed.)
What is whole life insurance?
Whole life is permanent insurance
protection that protects you for your whole life, from the day you
purchase the policy until you die, as long as you pay the premiums.
Why whole life insurance?
Whole life insurance provides basic
insurance protection, plus...
- Mortgage protection: Benefits can be used to help
pay off mortgages and other outstanding debts in the event of a
premature death.
- Estate preservation: Whole life insurance can
provide funds to cover estate expenses and help avoid the need to sell
assets and or borrow money to cover these expenses.
- Retirement funding: Cash values can be accessed
through policy loans or surrenders to supplement a retirement income.
Loans will reduce the death benefit.
- Charitable giving: A whole life insurance policy
can enable you to make a significant donation to your favorite charity
upon your death.
- Business needs: Whole life can be an attractive
executive and employee benefit and a means to assure a business's
financial future.
Whole Life insurance info center
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