Whole Life Explained
Safeguard Your Family's Future
Whole life insurance is the simplest type of permanent guaranteed life insurance. It can help you protect your family in the future and accumulate money over time. Talking to an Allstate personal financial representative can help you understand the different features of various whole life insurance policies. Whole life insurance policies offer you features like:
- Death Benefit: The death benefit is the amount the policy that is paid to beneficiaries as long as the premium payments are made.
- Lifetime Coverage: Whole life insurance offers protection for your lifetime as long as your payments are made. Your premiums are guaranteed to stay the same and your coverage level won't change, so you can rest assured that you're covered throughout every phase of your life.
- Cash value: You can build cash value over time because whole life insurance policies offer a savings component. This cash value will increase regardless of market conditions. You can access the money you've accumulated; however, keep in mind that taking a loan or withdrawal from your policy could reduce the surrender value and affect the amount your beneficiaries would receive if something were to happen to you.
- Options: If you choose Whole Life Advantage, it has additional features called "excess credits," which can help your policy build cash value.
Whole Coverage For Your Whole Life
Life doesn't come with guarantees, but whole life insurance does. You can expect a guaranteed death benefit, guaranteed cash value accumulation and payments that are guaranteed to stay the same. Learn more about whole life insurance and see how a whole life insurance policy can help you protect your loved ones' future.
Still have questions about whole life insurance? A Campbell Agency representative can help you find answers.
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