Whole Life

Whole Life Insurance stays in effect throughout your life, so your beneficiaries will be assured of a benefit.  In addition, Whole Life Insurance builds cash value that can be borrowed against as long as the policy is kept current.  You can also receive this cash value if your surrender the policy (policy must be held for a minimum period first.)   Premiums remain constant and payable until you turn 100.  The younger you are when you begin your Whole Life policy, the lower your payments will be.  Whole Life policies may also earn dividends, although they are not guaranteed.

Twenty-Pay Whole Life is similar to Whole Life, except the premiums are paid over a set period, rather than throughout your life.  You may speak with an agent to determine which of these options is best for you.