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Whole Life Insurance works differently than Term Life policies, in that it covers an individual for their “whole life” as the name implies.

Once a policy is in place, the face value of the policy does not change and remains the same over the life of the policy. 


Whole life insurance is the most common type of permanent insurance policy. In addition to providing cash benefits to your beneficiaries upon your death, most Whole life policies have a savings feature that is guaranteed to accumulate a cash value that grows at a specified rate over the life of the policy.

Usually, the policy has little or no cash value in the first couple of years of the policy, due to the cost of insurance expenses on the front end, but over time will begin to accumulate and build cash value.

For this reason, the cost for whole life insurance policies are usually more expensive than term life insurance.

Whole Life insurance policies can be designed to fit the need of many individuals as well as offer a number of different riders which can be added at a low additional cost.

Just like term life insurance, most applicants are required to complete a health questionnaire based on their health history. Once enrolled, premiums typically remain the same for the duration of the policy.

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