Whole Life Insurance
Provides coverage for you entire lifetime
(if premiums are paid) and premium amounts remain "level". Over
a long period of time, your out of pocket cost can be lower than that
of Term Insurance.
Because Whole Life policies can build up a sum of money over their duration,
they are often referred to as Cash Value policies. You can access these
cash values by withdrawing cash (subject to transaction charges), borrowing
against its value, or using the cash value to buy additional life insurance
should you feel you are inadequately insured.
Adjustable Life policies - a form of Whole Life - are also a great option
to those who feel that their financial needs will change over time. With
this type of life insurance, you can change your premiums and the amount
of your death benefit.
