Whole life insurance
Lifetime protection with guaranteed values
Whole life insurance offers coverage for your entire life, level premiums and cash value that grows on a guaranteed basis.
How it works
Lifetime coverage built on guarantees
Lifetime death benefit
Coverage that lasts your whole life as long as required premiums are paid.
Level premiums
Your premium is set when the policy is issued.
Guaranteed cash value
Cash value grows on a guaranteed schedule set in the contract.
Possible dividends
Participating policies may pay dividends. Dividends are not guaranteed.
Policy loans
You may borrow against cash value. Unpaid loans and interest reduce the death benefit.
Common uses
Often used for final expenses, legacy goals and children’s coverage.
Who it may fit
Whole life may make sense if you want…
- CertaintyGuaranteed premiums, death benefit and cash value.
- Lifelong coverageProtection that doesn’t expire.
- A conservative approachCash value that isn’t linked to market indexes.
- A legacyA benefit for family or charity.
FAQ
Common questions
How is whole life different from term?
Term covers a set period at a lower price. Whole life covers your entire life, costs more and builds guaranteed cash value.
How is whole life different from IUL?
Whole life has guaranteed premiums and cash value growth. IUL has flexible premiums and cash value credited based on an index formula, with fewer guarantees and more design choices.
What happens if I stop paying premiums?
Depending on the policy, you may be able to use cash value to keep coverage (for example, a reduced paid-up policy) or surrender for the cash value, less any charges.