Whole Life Insurance

Whole life insurance is a form of permanent insurance, or term to 100 insurance, which provides a guaranteed cash benefit at the time of the insured’s death. Some policies also accumulate cash values on a tax deferred basis over the life of the policies.

Programs include options for premiums to be paid for the life of the contract or premiums to be paid on an accelerated basis for a number of years. These policies typically have a “paid up” feature included. Future annual premiums are funded from accelerated payments and cash values accumulated inside the policy.