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Whole Life Insurance

Contents
What is whole life insurance?
Cash value
What’s next?
Variations on traditional whole life insurance
Compare whole life insurance quotes and rates

What is whole life insurance?

Whole life insurance (also called “traditional whole life insurance”) is the simplest form of permanent life insurance.

Traditional whole life insurance distinguishes itself from other permanent insurance primarily through the guarantees that it provides: the size of your death benefit and rate of cash value growth are guaranteed in your contract. Likewise, the premiums are unchanging from start to finish.

Whole life policies are designed to mature (usually when the insured reaches 100 years of age). Upon maturation, the death benefit is paid, and the policy terminates. This means that whole life policies may not actually continue for a lifetime, but they are guaranteed to pay a death benefit.

Cash value

All permanent life insurance policies include a cash value account, which can be treated as a liquid financial asset for a variety of uses.

In traditional whole life insurance, your cash value grows at a guaranteed rate. (There is no variable “current rate” of interest.) Therefore, your cash value is guaranteed to be a certain amount at any given time.

What’s next?

You have several options at this point:

Begin shopping now by requesting whole life insurance quotes, using the form at the bottom of this page. (click here)
Get shopping assistance by visiting our online Life Insurance Information Library or by calling 1-800-823-4852 to speak with an advisor. (click here)
Compare what you’ve learned about whole life insurance with term life insurance and universal life insurance.
Continue to the section below to learn about several variations on traditional whole life insurance.

Variations on traditional whole life insurance

Single premium whole life insurance—Your entire policy is paid up with the first premium.
Adjustable whole life insurance—The death benefit (and premium) is adjustable.
Participating whole life insurance—The policy owner receives dividends.
Modified premium whole life insurance—Premiums begin low and suddenly increase.
Graded premium whole life insurance—Premiums begin low and gradually increase.
Variable life insurance—The interest earned on cash value depends on the policyholder’s investment decisions.

Compare whole life insurance quotes and rates

Fill out the form below, and we’ll contact you with your whole life insurance quotes.

Wait!—Why can’t I get whole life insurance quotes instantly? The fact is that whole life insurance quotes are more complicated than other types, so we need to work with you individually. If you prefer to have quotes instantly, use our online life insurance quoter for term life insurance quotes.

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