Whole life insurance: what are the benefits?
Life insurance means you're preparing your loved ones for the unexpected–a thoughtful and appreciated gesture.
- Whole life insurance is permanent protection with a guaranteed rate that’s locked in for life as long as your payments are made.
- It can pay for final expenses or help your family with day-to-day financial commitments like a mortgage, debt payments and even aspirational promises like college costs for your kids.
- Whole life policies even build some cash value you can borrow against in the future. (If not paid back when you die, any outstanding loan balance, including interest, will be subtracted from the payment your beneficiary receives.)