Benefits of Whole Life

Whole Life Insurance : There are different kinds and your friends are telling you what to do. Here's the juice!

Whole life insurance means...

1. Permanent protection that can never be canceled as long as you pay your premiums.
2. A level premium that is guaranteed never to increase.
3. A guaranteed death benefit, generally free from federal income tax.
4. Tax-deferred cash value accumulation.
5. The potential to earn dividends. (Dividends are not guaranteed.)

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.

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