Whole Life Insurance

Whole Life Insurance includes the following key components and features:

1. 1. Lifelong Coverage: Whole Life Insurance provides coverage for your entire lifetime, as long as you continue to pay the premiums. This guarantees that your beneficiaries will receive a death benefit when you pass away, regardless of when that happens.
2. 2. Death Benefit: The death benefit is the amount of money that is paid out to your beneficiaries upon your death. It can provide financial support to your loved ones, covering expenses such as funeral costs, outstanding debts, and ongoing living expenses.
3. 3. Cash Value Accumulation: A portion of your premium payments goes into a cash value account. Over time, the cash value grows on a tax-deferred basis. This cash value can serve as a savings component within the policy, and you can access it through policy loans or withdrawals.