Whole life insurance has a cash savings component, known as the cash value, which the policy owner can draw on or borrow from. The cash value of a whole life policy typically earns a fixed rate of interest. Withdrawals and outstanding loan balances reduce death benefits. ...
Since whole life insurance lasts for your entire life, it guarantees a payout to your loved ones no matter when you die. It also comes with a cash value savings component that earns interest at a fixed rate.
Founded in 1907, Protective Life is headquartered in Birmingham, Alabama, and has offices in the Greater Cincinnati area and St. Louis, Missouri. Plans & Pricing Protective offers term, whole life, universal life, variable universal life, and indexed universal life insurance policies. ...
Death benefits When it comes to life insurance, one key feature of both term and whole life policies is the death benefit they provide. This benefit is the amount of money that will be paid to your beneficiaries upon your passing.
Part of life insurance planning is accounting for taxes. Let’s take a quick look at how whole life insurance and tax work together. First, as long as you don’t name your estate as the policy beneficiary, whole life benefits go straight to your beneficiaries. They don’t count toward yo...
Variable whole life insurance With variable whole life, also calledvariable life insurance, you decide how to invest your cash value. You choose your investments from a selection of funds offered by your insurer, and your cash value grows or shrinks based on the performance of those funds. Like...
Term life insurance is temporary, covering you for a fixed period of time, while whole life usually lasts a lifetime. Learn more now.
Is whole life insurance worth it? For those seeking long-term financial stability and a way to leave a legacy for their beneficiaries, a whole life insurance policy is worth it due to its permanent coverage and cash value benefits. What is the best whole life insurance?
Investment products wrapped inside a life insurance policy (Whole Life) can be a wise purchase when the ancillary benefits (tax advantages, asset protection, employee retention, etc., etc.) are justified by the price. In other words, savvy consumers are not buying life insurance investment produc...
Variable life: Avariable lifepolicy gives you greater control over how your cash value is invested, typically by offering you a portfolio of mutual funds from which to choose. (With a whole life policy, the insurance company itself makes those investment decisions.) Both the cash value of your...