What it means
The payment, called the premium, usually stays the same. The policy also builds cash value over time. Cash value is a feature inside the policy, not a separate bank account.
Life insurance optionsWhole life · Your questions come firstWhole life insurance.
Whole life insurance.
For the long run.
Whole life is life insurance designed to last your lifetime, as long as the required payments are made and the policy terms are met.
No pressure. No obligation to enroll.
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Let’s make it
make sense.
You don’t need to know the insurance terms. Start with the basics, then ask us anything.
A simple way to think about it
A person who wants coverage for costs their family may face whenever they die may consider whole life. Some final expense policies are smaller whole life policies.
What to know before choosing
Whole life generally costs more than term life for the same starting benefit. Borrowing or withdrawing money can reduce the benefit or affect the policy. Ask how long you must pay and what happens if you cancel.
Your life. Your next step.A little planning.
A little planning.
More room for living.
You bring the questions. We’ll help you understand the choices, what they cost, and what to look for.
Talk through my optionsGood questions. Clear answers.Your questions.
Your questions.
Answered simply.
Does whole life expire after 20 years?
It is designed for lifetime coverage rather than a set 20-year term. Coverage still depends on payments and policy terms.
What is cash value?
It is value that can build inside the policy. Access may be available through loans or other options, subject to costs and policy rules.
Does my family receive the benefit plus cash value?
Do not assume both are paid separately. Ask exactly what the beneficiary receives and how any outstanding loan affects it.
Is whole life the same as final expense?
Final expense describes a common purpose for coverage. Many final expense policies are whole life, but whole life can also be bought for other needs.
You don’t have to
choose alone.
Tell us what you want to protect and the payment you’re comfortable with. We’ll help you find your next step.
Still exploring?
General information, not a quote or a coverage promise. Eligibility, payments, benefits, exclusions, and availability depend on your state, the insurance company, and the policy. A beneficiary is the person or organization you name to receive the death benefit.
Learn more: Washington insurance regulator: Cash value life insurance. These sources provide general education and do not endorse TrueMatch Advisors.