Whole Life Insurance

Whole Life Insurance provides you a guaranteed long-life insurance protection and death benefit for your family. It also allows the policy to accumulate cash value at a guaranteed rate on a tax-deferred basis so that you can use it when alive. The cash value in your policy can be borrowed against for any purpose and at any time. It is an ideal long-range planning tool.

Your insurance premium and the death benefit will not increase, as long as the planned amount is paid. A part of the premium paid will go towards insuring your life and the other will go towards an investment account, either an interest? bearing account or stocks and bonds investment account.

Initially, the premiums will be several times higher than you would pay for the same amount of term insurance, but in the later years, on renewal of term policy, the premium will be lesser.

The dividend could vary depending on how well the insurance company is doing. If the company is doing well and the policies are not experiencing a higher mortality than projected, premiums are paid back to you in form of dividends. The dividends can be used to lower the premiums, it can be used to buy more insurance, or it can be used to pay term life insurance.

Your policy requires no management on your part, since all policy values, like death benefit, premium.

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