Lifetime protection + cash value

Coverage that lasts your entire life—and builds wealth along the way.

Whole life insurance provides permanent protection with a guaranteed death benefit, fixed premiums, and cash value that grows tax-deferred over time.

Unlike term life, whole life never expires. It's protection plus a financial asset that you can access during your lifetime.

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100+

years of dividends paid by top carriers

4-6%

typical total cash value growth

income tax on death benefit

Whole Life Explained

What is whole life insurance?

Whole life insurance is permanent coverage that lasts your entire life, as long as you pay premiums. But it's more than just insurance—it's also a financial asset. Part of every premium goes into a cash value account that grows at a guaranteed rate, tax-deferred. Over time, this cash value becomes a resource you can borrow against, withdraw from, or use to pay premiums.

The premiums are higher than term life—often 5-10 times more for the same death benefit—but they're fixed for life and never increase. The death benefit is also guaranteed, meaning your beneficiaries will receive the full amount no matter when you pass away. Some whole life policies also pay dividends, which can be used to buy additional coverage, reduce premiums, or accumulate as cash.

Whole life is ideal for those who want permanent protection regardless of health changes, want to build a tax-advantaged cash reserve, have estate planning needs, or simply want the certainty that coverage will be there no matter what. The discipline of fixed premiums also creates forced savings for those who might not save otherwise.

How it works

Getting life insurance is easier than you think

Whether you're a first-time buyer or reviewing your coverage, we make it simple to protect your family.

Step 1

Share your goals and situation

Tell us about your protection needs, savings goals, and how whole life fits your financial plan.

10 minutes

Step 2

Review customized illustrations

See how your cash value grows over time, understand dividend projections, and compare policies from top carriers.

Detailed projections

Step 3

Complete underwriting and get covered

Work with your agent through medical underwriting. Once approved, your permanent protection begins immediately.

Lifetime coverage

Key decisions

What you need to know

Understand the important factors when choosing whole life insurance.

Guaranteed lifelong protection

Coverage never expires, premiums never increase, and the death benefit is guaranteed—no matter how long you live or how your health changes.

Tax-advantaged cash value growth

Your cash value grows at a guaranteed rate, tax-deferred. Access it through loans or withdrawals while keeping your death benefit intact.

Dividend potential

Participating whole life policies may pay dividends that can be used to buy additional coverage, reduce premiums, or accumulate cash.

Estate planning benefits

The death benefit passes to beneficiaries income tax-free and can help cover estate taxes, equalize inheritances, or fund trusts.

Guided help

Guidance for life's biggest decisions

Life insurance decisions affect your family for years to come. Our licensed agents take the time to understand your situation and help you make the right choice.

Help determining if whole life fits your financial plan
Detailed illustrations showing cash value growth projections
Comparison of dividend-paying vs. non-participating policies
Guidance on using whole life for estate planning

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How much coverage do you need?

Whole life coverage amounts are typically smaller than term policies because premiums are higher. Focus on permanent needs: final expenses, estate taxes, charitable giving, or leaving a legacy. Many people combine smaller whole life policies with larger term policies to balance cost and coverage.

Life insurance at every stage

20s-30s

Lock in the lowest premiums for life. Cash value has maximum time to grow. Consider a smaller whole life policy alongside a larger term policy for comprehensive coverage at reasonable cost.

40s-50s

Whole life becomes more attractive for estate planning and retirement diversification. Cash value can supplement retirement income. Consider converting existing term policies before they expire.

60+

Focus on final expense coverage and estate needs. Premiums are higher but coverage is guaranteed. Whole life ensures your beneficiaries receive a tax-free death benefit regardless of when you pass.

Understanding cash value

The cash value in whole life grows at a guaranteed minimum rate set by the insurer—typically 2-4%. With participating policies, dividends can boost growth further. After several years, you can borrow against your cash value at favorable rates, with no credit check required. Loans reduce your death benefit until repaid, but the rest of your cash value continues growing. This makes whole life a source of emergency funds, retirement income, or capital for opportunities—all while maintaining your death benefit protection.

Questions?

Common questions about whole life insurance

Is whole life insurance worth the higher premiums?

It depends on your goals. If you need affordable coverage for a specific period (mortgage, kids' education), term life is usually better. But if you want permanent protection, tax-advantaged savings, or estate planning benefits, whole life provides value that term can't match. Many people use both: term for temporary high-coverage needs and whole life for permanent protection.

How does cash value work in whole life insurance?

A portion of each premium goes into a cash value account that grows at a guaranteed rate. After several years, you can borrow against this cash value or make withdrawals. Loans don't require approval and don't affect your credit—but unpaid loans reduce your death benefit. Cash value grows tax-deferred and can eventually be used to pay premiums or supplement retirement income.

What are dividends in whole life insurance?

Participating whole life policies may pay annual dividends based on the insurer's financial performance. Dividends aren't guaranteed but have been paid consistently by top carriers for over 100 years. You can use dividends to buy additional coverage, reduce premiums, accumulate cash, or receive as cash payments.

Can I convert my term life policy to whole life?

Most term policies include a conversion privilege that lets you switch to permanent coverage without new medical underwriting. This is valuable if your health has declined. Conversion terms vary by policy—some allow conversion anytime during the term, others only within the first 10-20 years. Review your policy or ask your agent about your conversion options.

Whole Life Insurance guides and resources

Dive deeper into whole life insurance topics with our expert guides and comparisons.

Ready to protect your family with whole life insurance?

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Explore other life insurance options

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