Whole Life Insurance
Whole Life Insurance is 1 of 4 permanent life insurance policies that provides both a cash value account & a death benefit. Whole life provides its policyholders with permanent protection for their dependents whilst simultaneously building a cash value account.What does it do?
- Offers you the flexibility to withdraw from the policy at any time in your lifetime.
- Provides the ability to receive dividends from your policy, or use them lower your monthly payments.
- Insurance company manages your cash value account for you.
- Pays a death benefit to your beneficiary.
- Has a fixed premium that won't rise so long as you continue to make your monthly payments.
- No premium flexibility.
- No face amount flexibility.
- No account flexibility for investing in anything such as stocks/bonds etc.
> > > Whole life insurance is a permanent policy. How does this compare with a TERM LIFE INSURANCE POLICY ?
