Whole life insurance stands as the predominant form of permanent life insurance, ensuring coverage for your entire life, contingent upon timely payment of policy premiums, similar to universal life insurance and variable life insurance.

Whole life insurance policies distinguish themselves with fixed premiums that endure for the policy’s duration. The stability of unchanging premiums enhances transparency and predictability, offering a clear understanding of long-term life insurance costs.

Over time, whole life insurance policies can accumulate a cash value, providing the policyholder with the option to withdraw or borrow against it, functioning like a loan.* However, it is crucial to comprehend the terms associated with these actions, as loans or withdrawals may impact the policy’s cash value and death benefits.

Unlike variable life insurance, the cash value of a whole life insurance policy remains unaffected by market fluctuations. In fact, most whole life insurance policies ensure the growth of cash value at a guaranteed minimum rate, adding an element of financial security to your permanent life insurance plan.