Whole life policies invest a portion of the premium in an accumulation fund rather than just going for insurance protection. The benefit is having permanent insurance protection plus cash value. Earnings generated by the policy are not generally taxed while the policy is in force. In addition, to meet financial commitments such as college expenses or purchasing a home, you may be able to borrow money against the policy. Remember, however, life insurance is designed to provide protection. Additional benefits, such as borrowing money from your policy are secondary considerations.
Contact me to see if this is the best type of life insurance for you at 225.622.6554 or trish@insurancelady.com.
