Life Insurances Reviews & Info

Whole Life or whole of life insurance is a traditional form of permanent life insurance. These policies build cash value and have fixed premiums. As the name implies, you can keep a whole of life policy as long as you live.

Whole life has more guarantees that other types of life insurance policies. If you pay your premiums on time you can’t lose your coverage because your cash value ran out. Your premium never goes up.

This is different from a term life policy. Term polices tend to be less expensive, but they have no cash value. Also your cost will go up if you apply for another policy after the current term of your policy expires.

As with all other life insurance policies a death benefit is paid at the time of death. This money goes to the named beneficiaries unless there are none. If there are no beneficiaries, the proceeds may go to the insured’s estate.