There are those who believe life insurance has very little to do with, well, life. Chances are they’re not too well acquainted with Whole Life Insurance. Known as one of the most versatile financial instruments ever devised, Whole Life does far more than simply offer protection for your loved ones when you die.

Thanks to three guaranteed components - premium, cash value,and death benefit.

Of course, Whole Life will help replace your income to protect your family or your business in the event of your death. But thanks to the cash value within the policy, it can also help accumulate wealth, give you access to cash to cover unexpected expenses, augment your retirement income, facilitate estate planning, and more. All at a predictable cost on account of the guaranteed policy premium.

Unlike Term Life Insurance  —  which, as its name suggests, is in effect for a limited period or “term”  —  Whole Life is permanent insurance. That means it will provide benefits for the duration of your life.

Whole Life vs. Term Life Insurance

Type of insurance	Term Life	Whole Life
Never expires	No	Yes
Access to cash value	No	Yes
Potential dividends*	No	Yes
Growth potential	No	Yes
Guaranteed death benefit	For term limit	Yes
Income tax-free death benefit	Yes	Yes

Protection

Whole Life protects your family or your business by offering a permanent death benefit that can fulfill a broad range of financial needs.

For your family: Payment of loans/mortgages Funding of buy/sell agreements Key person insurance Funding of supplemental retirement programs

For your business:  Payment of loans/mortgages  Funding of buy/sell agreements  Key person insurance  Funding of supplemental retirement programs

Wealth Accumulation

One of the greatest advantages of Whole Life is its ability to increase in value over time. The cash value of a Whole Life policy grows thanks to the guaranteed cash value and the potential to accumulate dividends. But unlike other types of investments and savings vehicles, the cash value and dividends of a Whole Life policy generally grow tax-deferred for as long as the funds remain in the policy.

Access to Cash Value

At any time, for any reason, you can access the cash value you’ve accumulated  —  generally with no penalty or tax liabilities. You can use the cash value in a Whole Life policy to:

• Pay for education expenses
• Expand your business
• Provide emergency funds
• Collateralize a bank loan
• Pay the premiums of the policy itself

Tax Benefits**

Whole Life Insurance offers a host of unique tax advantages. These can help minimize the impact of taxes on both the death benefit and cash value of your policy.

• Tax-free death benefit ensures your loved ones or business receive the full value of your policy
• Tax-deferred growth means you’ll pay no income tax for as long as the funds remain in the policy
• Dividend withdrawals are generally tax-free up to the amount cumulatively paid in premiums
• Loans taken against the cash value of the policy will usually not trigger a taxable event, regardless of how much profit the policy has shown

Riders that Offer Flexibility***

Riders help make Whole Life even more flexible to fit your life. Additional add-ons include:

• Waiver of Premium
• Accidental Death Benefit
• Enhanced Accelerated Benefit
• Guaranteed Insurability Option
• Paid-Up Additions
• DuoGuard
• 10-Year Annually Renewable Term
• Select Security
• Simplified Insurability Option
• Exchange of Insureds