You decide how much money you wish to leave your loved ones. This is known as the Death Benefit.
Whole life insurance is a simple way to financially safeguard your family. As with all life insurance products, your entire life provides a tax-free death benefit to your beneficiaries if you die. The greatest difference between other types is that the entire life policy lasts.
To help you better understand the difference between whole life and term life, here's a brief overview on each type of coverage.
Another feature is the whole-life insurance dividend. Based on performance during the preceding year, this payment could be made to policyholders. Dividends can't be guaranteed. But if you do get one, you may use it:
You can easily protect your family's financial future by buying whole life insurance without worrying about policy expiration. As with all life insurance products the whole life pays a death benefit that is tax-free to your beneficiaries. The main difference between life insurance products is that it lasts throughout your entire life.

Many people underestimate their ability pay life insurance premiums year after year. A study by LIMRA (the Society of Actuaries) found that approximately 30% of all policies are surrendered within the first 3 years. 45% of policies are abandoned within 10 years.
If you're starting out in a career where you have a lot to earn, it's cheaper and more affordable to buy your entire lifetime when you're young.
A whole-life policy has two parts. The death benefit and the cash value.
As life changes, so too does your need to have financial protection. Consider whole life insurance if any of the following items can be related to you.
If you are in the early stages of a career with high earning potential, you can buy your entire life at a lower price and lock in a lower rate.
The best whole-life rates will depend on your age and health.
If the idea and potential dividends of cash value appeals to your interests, you shouldn't make this your primary reason for choosing your entire life.
