Whole Life Insurance

Whole Life Insurance

Whole life insurance, also known as permanent life will keep you and your family covered for as long as you keep making your monthly premiums.

As long as you make sure to pay the premiums and the policy doesn’t lapse, the cost of the premiums paid to the policy never increases. As with term life policies, your rates rise over time and this is due to changes in your health and age.

With whole life insurance, the premium cost stays the same as long as the policy is in force. Even if you become gravely ill, the cost never changes. For whole life insurance the policy actually gets cheaper because of inflation which wears away the value of money. 

A whole life policy is a great product if you have long-term insurance needs and you want to add to your retirement savings and flexibility of your long-range finances.