WHOLE LIFE INSURANCE
It acts as a financial nest, providing security for your loved ones while building your wealth over time.
Permanent Life Insurance or Whole Life Insurance
As the name suggests, permanent life insurance is also known as whole life insurance because it provides insurance coverage for a lifetime. It acts as a financial nest, providing security for your loved ones while building your wealth over time.
Benefits of Permanent Life Insurance:
- The premiums for permanent life insurance are usually guaranteed not to increase over time. In fact, some offered plans require you to pay for only a limited time to enjoy the lifetime benefits.
- It is a permanent insurance coverage providing you security for as long as you live.
- It includes the investment component in addition to the lifelong coverage, where a part of your premium is invested and the earnings may be paid out as dividends.
- You can access your surplus funds while you live through a loan or a withdrawal to help pay any expenses, plan your estate or supplement your retirement income.
- It provides your beneficiaries with a tax-free payout after your death.
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