Whole life insurance is a form of permanent life coverage that provides a death benefit and includes a savings component known as the cash value. This type of policy guarantees coverage for the policyholder’s entire life, as long as premiums are paid. The premiums remain constant throughout the life of the policy, making it easier to plan for long-term financial commitments. The cash value of whole life insurance grows at a guaranteed rate, and policyholders can borrow against this cash reserve if necessary. Whole life insurance is designed for individuals seeking stable, lifelong financial protection and a predictable way to accumulate savings over time.
