A whole life insurance is an effective way to protect your loved ones now and in the future. By offering permanent protection with premiums never increase, full life insurance allows you to keep your family even when you’re not present. But that is not all. Unlike other types of life insurance, insurance policies develop whole life cash value that you can use while you live to meet a wide range of financial goals in January.
When you choose a life insurance to protect your loved ones, you’re choosing a guaranteed lifetime protection. Your premiums will never increase and the amount of the guaranteed coverage will not change. Whether you’ve just become a father or a few years left for retirement, you can feel the comfort of knowing you’re covered.
Build cash value
Many people choose whole life insurance because it can help them achieve certain financial goals in life. An insurance policy whole life accumulates a cash value guaranteed to increase over time. You can borrow from your policy for many different reasons, to help pay for college, supplement your retirement income or provide money for emergencies 1.
A Chance to win dividends
Owner’s insurance policies entire life are also eligible to receive dividends. And any dividends you receive can be used to increase your life insurance protection and increase its value in cash. Although not guaranteed, paid dividends to eligible participating policyholders consistently since the 1860s.