Whole life insurance provides valueable protection for a lifetime as long as premiums are paid. It offers guarantees that you can’t find in other forms of life insurance, including guaranteed premiums that will not increase, a guaranteed death benefit and guaranteed cash value growth. A thorough understanding of your family's current and future financial needs is key when determining how much and what type of Whole Life Insurance is appropriate. A sufficient amount of coverage is essential to ensure your family's financial future is not left to chance. Once you've determined the appropriate amount, you next need to decide what type of life insurance is right for you. Please call us today for more information at 866-866-2960
Different kinds of Whole Life Permanent Insurance
Whole Life Insurance products can have many different features and there are different types of policies depending on what they are used for. Most Whole Life Insurance policies are payable until age 100, here is some basic information about Whole Life Insurance
Standard Whole Life Paid up at age 100 Life Insurance requires a premium 
payment to age 100, making it the lowest premium whole life insurance policy of all the products. Paid up at age 100 whole life insurance is a good choice for family income protection. This kind of a whole life insurance policy may sometimes be able to have the face amount of life insurance increased (subject to underwriting) or decreased as your needs change. This is the most common kind of Whole Life Insurance.
Paid up at age 65 Life Insurance is ideal for both personal and business life insurance planning because it is guaranteed to be fully paid for at age 65, a typical retirement age. Individuals might use the cash value of this type of whole life insurance policy to supplement their retirement income.A In a business market it might be used to protect against financial loss due to the death of an owner or key employee, or it can fund an employee benefits package. Like the standard policy, a Paid up at 65 Life Insurance policy may be increased (subject to underwriting) or decreased as your life insurance needs change during a forseen on non-forseen series of events.
10 Pay Whole Life Insurance is guaranteed to be fully paid for after 10 annual 
premiums. 10 pay whole life insurance is an excellent choice when you need a guaranteed limited premium payment period for your life insurance. In your personal wealth planning scenarios, 10 pay life insurance is ideal for supplementing your retirement income because you can take advantage of the guaranteed limited premium payment period while your income is still very high. It can also be useful for providing a gift to a favorite charity. In the business insurance market it is a good choice for funding a non-qualified, selective deferred compensation plan or providing an employer with "Golden Handcuffs" to help retain top talent at his company.
High Early Cash Value Life Insurance is designed specifically as a "balance sheet" product to provide asset protection for the business owners or partners. It positions the cash value in the policy as an asset that can be carried on your business' balance sheet. Generally a HECV life insurance policy's cash value will be nearly equal to the base life insurance policy standard premiums paid at the end of the first policy year. It is usually paid for by age 85. Like other types of whole life insurance a HECV life insurance policy's benefit amount may be increased (subject to underwriting) or decreased as your needs change.
