Whole Life Insurance

Whole life insurance provides benefits for a lifetime.

It’s more than just a benefit upon death — it provides value you can use during times of need. The benefits of whole life include any final expenses plus cash accumulation. It’s kind of like owning a house: you keep the benefit for a lifetime.
What can it be used for?

  • Help pay final expenses
  • Pay for the expenses associated with terminal illness, including long-term care
  • Accumulates cash value at a guaranteed interest rate; you can borrow against this value

Whole life also has a guaranteed premium and level benefit — for life.

  • Your premium is locked in for the amount of coverage you desire — the younger you are, the lower the premium. Rates this affordable with guaranteed issue are usually only available through an employer.
  • The level death benefit does not decrease with age.
  • The coverage continues for life.
  • Guaranteed issue — generally available only through an employer — means you can get coverage with no health questions or exams.

Content by Lockton Dunning Benefits