Whole Life Insurance
Permanent coverage that lasts your entire lifetime.
Whole life insurance is a type of permanent coverage designed to last your entire lifetime. It provides a guaranteed death benefit and builds cash value over time that you can borrow against. As long as premiums are paid, coverage stays in force — it does not expire after a set term.
Premiums are typically higher than term life, but they are generally fixed and the policy offers lifelong protection and a savings component, making it a popular choice for legacy planning and final expenses.
Whole Life Insurance may be a good fit for:
- Lifelong coverage that never expires
- Leaving a financial legacy for loved ones
- Building tax-deferred cash value over time
- Covering funeral and final expenses
How whole life insurance works
Whole life combines a death benefit with a cash value account. A portion of each premium goes toward the cost of insurance, and a portion builds cash value that grows on a tax-deferred basis. Over time, you may be able to borrow against that cash value or use it to help pay premiums.
Because the policy is permanent, your beneficiaries receive the death benefit whenever you pass away, as long as the policy remains in force.
Benefits of whole life
- Coverage that lasts your entire life, not just a set term
- Fixed premiums that typically do not increase with age
- Cash value that grows tax-deferred over time
- A guaranteed death benefit for your beneficiaries
Whole Life Insurance FAQs
What is whole life insurance?
Whole life insurance helps cover you for the rest of your life. The premiums you pay help cover the cost of insuring you and can also accrue cash value that you can borrow against, while providing a death benefit to your loved ones when you pass away.
Is a medical exam required?
Many guaranteed acceptance whole life policies available through our network of licensed agents do not require a medical exam or health questions, typically for applicants aged 45–85.
Compare whole life insurance options today
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