Whole Life Insurance

Whole Life policies provide a payment on death, regardless of when death occurs, provided the necessary premiums were maintained throughout the life of the plan. With level premiums and the accumulation of cash values, whole life insurance is a good choice for long-range goals.

Generally, premiums for these types of contracts are payable for the life of the contract; however, there are occasions when this may not be the case, due to sufficient monies being available within the plan to meet the cost of the mortality deductions.

The amount of your guaranteed cash value depends on the:

• Type of Whole Life policy
• Value of the policy
• Amount of time you the policy is held

Growth in cash values is tax-deferred under current federal income tax law. Borrowed amounts reduce the death benefit and cash surrender value.