Because you want to protect your loved ones and their future. We know you can't put a dollar amount on your family, but you can ensure their future is protected. And life insurance rates are more affordable than you might think.
What is a 'Whole Life Insurance Policy '
Whole life insurance is a contract with premiums that includes insurance and investment components. The insurance component pays a predetermined amount when the insured individual dies. The investment component builds an accumulated cash value the insured individual can borrow against or withdraw. This is the most basic type of cash-value life insurance.
Who Needs Whole Life Insurance?
Different types of life insurance fit different people. Whole life insurance is indicated for individuals in a variety of situations. These situations include the need to provide dependent family members with funding after the head of a household dies; to liquidate business debts, mortgages or provide family members with funds to pay down debts; to fund requests from charities; and to ensure cash is instantly or quickly available to surviving family members. There are a variety of other circumstances that may indicate whole life insurance for individuals.