| What is a Whole Life Insurance policy? Whole life | | | | portion of the premiums paid will go to pay life |
| insurance was designed to give your beneficiary | | | | insurance, but the rest goes into a separate account |
| protection for your entire life. This means that you | | | | that will continue to grow as long as you maintain the |
| have insurance coverage from the date that the policy | | | | payments on the policy. |
| is enacted until the day that you die, up to 100 years of | | | | This account can be borrowed against later in life, if |
| age. At age 100 you will receive the "face value" of | | | | you need it. It can also be saved for college tuition for |
| the policy. The face value is the amount that the policy | | | | your kids, retirement or any unseen financial hardships |
| was originally intended to pay. Example, a $100,000.00 | | | | that you may encounter. |
| policy has a "face value" of $100,000.00. | | | | You can pay for your Whole Life premiums three |
| Whole Life Insurance is an excellent investment for | | | | different ways. These ways are Whole Life Insurance |
| someone just starting out their financial future. Whole | | | | One Time Payment, Straight Life and Limited Pay Life. |
| Life policies build what's called a "cash value" which | | | | Here are the differences between the three different |
| means that as you continue to make your payments a | | | | types of policies. |