Whole Life Insurance

Whole life insurance is a permanent life insurance product that provides lifelong coverage and a guaranteed death benefit for beneficiaries. Unlike term policies, whole life policies accumulate cash value over time, which grows tax-deferred and can be accessed through loans or withdrawals. The cash value can also be used to purchase paid-up additions to the policy, ensuring the policy continues to grow over time. It combines protection with savings, making it a versatile option for clients looking to meet both their insurance and financial planning goals.

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Whole Life Insurance Highlights

  • Guaranteed lifetime protection as long as premiums are paid
  • Surrender options available if premiums are not paid, such as reduced paid-up policies or conversion to a paid-up term policy
  • Builds tax-deferred cash value that can be borrowed against, withdrawn, or used to purchase paid-up additions
  • Guaranteed, fixed premiums that won’t increase over time
  • Guaranteed death benefit for beneficiaries
  • Available with long-term care, accidental death, or child benefit riders

Why Offer Whole Life Insurance?

Whole life insurance provides agents with the opportunity to deliver both protection and long-term financial stability to their clients. It’s an excellent choice for clients looking to secure family wealth, leave a legacy, or supplement their retirement savings. Whole life policies may also be used in business succession scenarios, such as buy-sell agreements or key person coverage. Agents can position whole life insurance as a versatile solution for estate planning, wealth transfer, and building cash reserves, broadening their client base and fostering long-term client relationships.

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