Frequently Asked Questions
What is whole life insurance?
Whole life insurance is a type of dividend-paying life insurance that earns a guaranteed cash value at a predetermined fixed rate. Tax-free, low-interest loans can be taken against the cash value of a whole life insurance policy. This is known as a living benefit.
Whole life insurance insures the policyholder for their entire life and pays out the death benefit (assuming there are no unpaid policy loans against it) to a beneficiary when you die. Because it has both a living benefit and a guaranteed death benefit, it is considered a tool for building wealth and leaving a legacy.