Whole life insurance is a permanent policy, which gives you guaranteed protection for your loved ones that lasts a lifetime. With whole life insurance, unlike term, you earn guaranteed cash value, which you can use however you want. Participating whole life insurance is eligible to earn dividends,1 which can increase the death benefit and the cash value of the policy. Or there are other options you could choose, such as using dividends to help pay premiums.
Whole life ensures a guaranteed death benefit, which means that your loved ones will receive a lump sum of money regardless of how long you live.
With whole life, the policy builds cash value over time that can be used to help you pay for college, supplement your retirement income, or for emergencies.2
Policyowners are also able to receive valuable dividends. While not guaranteed.
1Dividends are not guaranteed.
2Access to cash values through borrowing or partial surrenders will reduce the policy’s cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.