: The cost is typically locked in at the time of purchase and will not increase as you age.
: You can often borrow against the policy's cash value to fund business ventures, emergencies, or real estate. Critical Considerations buy whole life insurance
: Your coverage never expires as long as you pay the premiums. : The cost is typically locked in at
: A portion of your premium goes into a savings-like account that grows tax-deferred at a guaranteed rate. buy whole life insurance
Whole life insurance is a permanent policy that provides coverage for your entire life while accumulating a "cash value" over time. Unlike term insurance, which only pays out if you pass away within a specific timeframe, whole life is guaranteed to pay a death benefit eventually.
