There are many benefits to whole life insurance that may be worth considering when you are looking at permanent cash value life insurance. Whole life insurance typically is a little more expensive that your universal life insurance plans and term life insurance plans, but that is because it has some unique key components built into them.
Cash Value Accumulation
Whole Life Insurance offers a combination of permanent life insurance, income tax advantages, certain guarantees that don’t come with other types of life insurance, and cash value accumulation.
Some of the key features are a guaranteed death benefit, guaranteed premiums, guaranteed cash value accumulations, and cash value accumulates on a tax deferred basis. To learn more about the different whole life options available to you, please click the green request a quote button below.