01
Lifetime coverage
No end date. As long as premiums are paid, it stays in force.
02
A locked-in price
Your premium is set the day you buy and never goes up.
03
Guaranteed cash value
A savings piece that grows over time, tax-deferred, at a guaranteed rate.
What it is
Permanent coverage with a savings side.
- Life insurance that lasts your whole life, as long as premiums are paid.
- Your premium is set when you buy it and never goes up.
- Part of each payment builds cash value that grows at a guaranteed rate, tax-deferred.
- You can borrow against the cash value later. Unpaid loans and interest reduce what your family receives.
- Some policies also pay dividends. Those aren't guaranteed.
- The death benefit goes to the people you choose, generally free of income tax.
- Available in larger amounts than final expense, from modest to sizable coverage.
How the cash value grows
Slow at first, then it builds.
Early payments mostly go to the coverage itself. Over the years, more goes to cash value, and that value grows on its own. Your coverage amount stays the same the whole time.
Shape only, for illustration. Your actual guaranteed values are in your policy.
Year 1
Year 5
Year 10
Year 20
Year 30
A good fit if you…
- Want coverage that never expires
- Want to lock in a price while you're young and healthy
- Want to leave money to your kids, grandkids or a cause
- Support someone who will need help for life, like a child with special needs
- Like guarantees more than growth
Maybe not the best fit if you…
- Need the most coverage for the least money. Term life wins there.
- Only need coverage for a set time, like until the mortgage is paid
- Are on a tight budget where a missed payment is likely
- Are 50 or older and mainly want funeral costs covered. Final expense may be a better fit.
Side by side
Whole life vs term life
| Whole life | Term life | |
|---|---|---|
| How long it lasts | Your whole life | 10 to 30 years |
| Price | Locked in for life | Locked in for the term |
| Cash value | Yes, guaranteed growth | No |
| Cost for the same coverage | Higher | Much lower |
| Best for | Lifelong needs, legacy, guarantees | Young families, mortgages, income |
What to expect
Five steps, one agent the whole way.
1. A 15-minute reviewYour goals, who you want to protect, your budget.
2. I compare companiesQuotes from several companies, explained side by side.
3. Apply by phoneHealth questions. Larger amounts may need an exam or records.
4. ApprovalA few days to a few weeks, depending on the company.
5. Policy reviewWe go over it together, then check in each year.
Common questions
Is whole life an investment?
No. It's life insurance with a guaranteed cash value. It isn't tied to the stock market and isn't meant to replace a retirement account.
Can I use the cash value?
Yes, usually through a policy loan. Loans charge interest, and anything unpaid comes out of the death benefit.
What if I can't keep paying?
You have options, like using cash value to keep it going, switching to a smaller paid-up policy, or cashing it out. Call me before you stop paying.
Do I need a medical exam?
Many smaller policies don't. Larger amounts or some health histories may need one. I'll tell you before you apply.
Lock in your price while it's lowest.
Every year you wait, the price goes up. See yours in about 2 minutes.
Get your whole life quote
About 2 minutes. Free, with no obligation.