Whole Life Insurance

Whole Life Insurance (WL) is a type of permanent insurance policy that offers level premiums, a level death benefit and guaranteed cash values. The guarantees provided in a whole life policy offer several unique benefits for the consumer. Because the premiums never increase, the consumer does not have to worry about rising insurance costs as they get older. Also, because of what the industry calls standard non-forfeiture provisions, a whole life policy will accumulate cash values that can be accessed by the consumer without surrendering the policy itself. This ability to access this cash could prove to be very valuable. In fact, both Disney and the Pampered Chef companies were started by accessing cash values in life insurance policies.

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