Whole Life Insurance

Whole Life Insurance is the most basic type of permanent life insurance. Whole Life insurance provides protection as well as a cash value. Your premiums remain at a fixed level for the duration of the contract. Over time, the policy builds up cash value on a tax-deferred basis. It may also provide for dividends, which can be used to add more coverage, can build a cash-value that you can use to supplement your retirement income or help provide for a child's education, it's your money to use as you need. But keep in mind life insurance should not be purchased solely for cash-value accumulation; its primary purpose is protection. Depending on your age and health, your premium will purchase a specific death benefit and produce a specific cash value, which are guaranteed View the rest of this article