Whether you have family and small children or are a bachelor living alone, there are many reasons that you may consider purchasing a Whole Life insurance policy. Whole Life insurance is a smart way to protect your finances while you’re still alive and your loved ones when you’re gone. Better than life insurance, Whole Life is there for you when you need it the most, and accumulating safely when you don’t.
Whole Life policies work similarly to a savings account. Every month you pay a premium, which goes to a personal account, where it sits and accumulates until you need it. If you need to cover your children’s college tuition, pay for outstanding medical bills or cover the cost of property damage, your policy can help you pay for it all. Life is full of the unexpected and while you cannot always plan for them, Whole Life can help you be prepared for them. If you don’t have too many of those (which, hopefully you don’t), your policy will serve as a nice nest egg for your heirs if something should happen to you. You even have the option of naming your favorite charity as a beneficiary if you so choose.
When you purchase a Whole Life policy, it is guaranteed to remain in effect for the duration of your life, provided that all of your premiums are paid on time until the date of maturity. If you’re interested in protecting your finances and your loved ones, look into Whole Life insurance today.