Whole life insurance covers you for as long as you live (as long as premiums are paid on time), at a locked-in rate that won't increase as you age or if your health status changes. It may also build "cash value" over time, which is money that gets set aside with each payment you make, like a nest egg for the future.

Ready to get started? Get a whole life insurance quote now, or read on to learn why whole life insurance may be just what you need.

A Set Rate that can be worked into your Budget

Your predictable, fixed-rate payments can be made on a monthly, quarterly, semi-annual, or annual basis. Once you buy whole life insurance, the rate you pay is guaranteed to stay the same, even as you age or your health status changes.

Let's say you buy it during your working years. You'll get to keep that same policy and premium rate when you retire.

And, speaking of retirement, that's another reason why people buy a whole life policy. It can act as a way to set money aside for the future.

How does Whole Life Insurance works?

•  Get Coverage for your entire life
•  Get fixed payments that remain the same, even as you get older or your health declines  
•  Accrues cash values or dividends, depending on the policy 
•  Cash value can accrue on a tax deferred basis, according to current tax laws 
•  Allows you to borrow against the cash value, often at a favorable rate 

Protection Today. Potential Growth Tomorrow.

 Nearly half of working-age families in America haven't saved a single penny for retirement, according to the Economic Policy Institute.1

Luckily, some whole life insurance policies come with the added benefit of "cash value" With each payment you make toward your policy, a portion of it gets set aside for the future. Left alone, it will continue to grow — and can help to supplement retirement savings. Similar to qualified retirement plans, cash value also comes with tax advantages, as the money accumulates on a tax-deferred basis.

Plan for the Future

Some whole life insurance policies may also allow you to borrow money against the cash value of your policy, in some cases. Usually, this can be done without the waiting periods and credit checks typically required by other types of loans.

Just keep in mind that if you borrow against the cash value of your whole life insurance policy, you should consider repaying it as soon as possible. If you don't, your loved ones will have a reduced death benefit if you pass away, since unpaid loan balances are deducted.