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Full Life Insurance
Whole Life Insurance
Whole life
insurance provides permanent protection for your dependents while building a
cash value account. With this type of insurance, the insurance company
manages the policies various accounts.
What
it does:
It pays a death benefit to the beneficiary you name and offers you a low
risk cash value account and tax-deferred cash accumulation.
It provides a fixed premium which can't increase during your lifetime as
long as you continue to pay the planned amount.
It allows the insurance company to exclusively manage the cash value account
in your policy.
It provides you the option to receive dividends from your policy or apply
them to reduce payments.
It offers you the right to withdraw from the policy during your lifetime.
What
it doesn't do:
It doesn't offer the account flexibility to invest in separate accounts such
as money market, stock, and bond funds.
It doesn't allow you the account flexibility to split your money among
different accounts or to move your money between accounts.
It doesn't offer premium flexibility.
It doesn't offer face amount flexibility.
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