What are the Advantages of Whole Life Insurance?

Whole life insurance policies build cash value and should remain in force as long as the premiums are paid. Cash values allow you to borrow against them, gathering interest while your policy remains in effect.

If you die, your family receives a death benefit that isn’t subject to income tax, and this benefit can be used to provide for family members relying on your income to pay bills and living expenses.

What are the Disadvantages of Whole Life Insurance?

Whole life insurance can be expensive, and you must continue to pay premiums for the policy to remain in effect. As a result, if you stop paying premiums or allow your policy to lapse for any reason, it will cease to provide a benefit for your family.

Choosing a whole life policy is a detailed and sometimes personal process. Our team is standing by to help you understand and make smart choices regarding all your options. Click below to contact us for a free consultation.