What is Whole Life Insurance?
Whole Life Insurance is basic life insurance purchased for as long as you live (and continue to pay the premiums). Whole life policies have higher premiums than similar pay out term life policies, but the whole life policies have a cash value that increases as you pay your premiums. If you stop paying your premiums, the cash value of the whole life policy is yours to keep.
A whole life insurance policy with a cash value is also an asset - you may be able to get a loan using the whole life cash value as collateral.
When you die, your beneficiaries will receive the cash value of the insurance policy, plus the pay out amount of policy minus the cash value, minus any outstanding loan balance. You do not get the total pay out amount of the policy plus the cash value - you get the pay out amount, regardless of your cash value at the time of death.
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Insurance Carriers represented by agents in our network include:
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Product Features
- Our referral service is Free
- Quoting process is fast and easy
- Quotes from local life insurers
- Compare several whole life insurance policies
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- Whole Life Insurance as easy as 123!
