Whole Life Insurance

mother and daughter sitting on sofa

Whole life coverage may be right if you:

  • Need coverage that doesn’t require a medical exam or health questions
  • Have a tight budget or fixed income and need a premium that won’t increase
  • Need coverage for burial, funeral, or other final expenses, or to pay off debts
  • Would like to supplement existing insurance coverage
  • Want to build cash value and have access to funds in an emergency

What is included in a whole life insurance policy?

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Guaranteed coverage that lasts for the rest of your life* with no medical exam

Premiums chart illustration

Premiums that are guaranteed not to increase

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Potential cash value that grows on a tax deferred ** basis

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A set benefit to be paid to your designated beneficiaries at your death

Apply in as little as 5 minutes

  • Simple 4 step application including personal information, beneficiaries, pay and sign
  • Receive instant coverage
  • Benefit amounts: $2,000 – $25,000
    (in WA, $5,000 - $25,000)

Apply Now
For more coverage options and guidance

Frequently Asked Questions

Like whole life plans, most term life plans have a fixed premium and fixed death benefit. However, whole life provides benefits for the rest of the insured person’s life, whereas term life only lasts for a specific period of time. In addition, a whole life policy includes cash value, whereas a term life policy only includes the death benefit. On the other hand, term life has a lower premium per dollar of coverage and significantly larger death benefits are available.

Whole life and universal life are both types of permanent life insurance, so they have many characteristics in common. Both whole life and universal life provide a death benefit for the rest of the insured person’s life. The main difference is that whole life has a fixed premium and a fixed benefit, whereas universal life has more flexibility — but that flexibility also comes with more risk, as the premium might increase.

In general, whole life is a type of budget-friendly insurance, and the premium will never increase. Your premium takes into account your current age at the time of issue, your gender, and your death benefit amount.

Understand How Life Insurance Works

How Does Whole Life Insurance Work?

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Converting Term to Whole Life Insurance

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What to Look for in Life Insurance Over 65

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