Life insurance is an essential line of defense for your family in the case of tragedy. It can give them the time and resources they need to grieve and make a plan for the future.
Whole Life Insurance These policies include a standard death benefit coverage, and with cash value guaranteed on all premiums paid during an insured’s lifetime. Critical illness riders may also be offered as part of a whole life insurance policy.
The most common of life insurance products, whole life insurance guarantees payment of a death benefit to beneficiaries in exchange for level, regularly-due premium payments. The policy includes a savings portion, called the cash value, alongside the death benefit. In the savings component, interest may accumulate on a tax-deferred basis. Growing cash value is an essential component of whole life insurance.