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Whole Life Insurance

A whole life insurance policy is designed to provide insurance protection for your entire life, with built-in savings element, provided premiums are paid as specified in the policy. There are two major types of whole life: participating and non-participating.

Participating whole life insurance appeals to people who are not interested in managing day-to-day investment risk and are attracted to the historical stability of the insurance companies. Equally important are the guarantees inherent in a participating whole life policy: level premium guaranteed for life; level death benefit and; guaranteed cash surrender value increasing over time.

Participating whole life policies are also eligible to receive policy dividends. While not guaranteed, dividends have the potential to enhance your policys long-term value while retaining a tax-exempt status.