Shopping the life insurance market can be confusing. It’s important that you choose the right kind of insurance for your financial, health and family situations. First and foremost Whole Life Insurance is truly the best strategy when you need a permanent solution to a permanent event. Whole Life Insurance is the only truly guaranteed insurance policy. As long as you continue to make the installments or arrange for the policy to be paid for within a certain time, then you will be leaving your family or business in a position to financially move forward in the manner at which you worked so hard to create throughout your lifetime.

Whole life permanent insurance is guaranteed to last for your entire life. Some of the biggest benefits of whole life insurance Cash Value Accounts are:

It provides an emergency fund to be used as any other asset.
It’s liquid.
It accumulates on a tax deferred basis.
If used properly, could be tax free.
It’s probate free.
Most policies generate dividends which can be used to increase death benefits, reduce premiums, or add to the cash value of your policy.

So when you ask yourself what is whole life insurance, know that with whole life permanent insurance the cash value is an asset, just like your house, real estate, or savings accounts. And since it is an asset you can use it to help you with a variety of things like college costs, purchasing a new home, or to supplement your retirement. Whole life permanent insurance helps you when you’re here and protects your family when you’re gone.

Whole life insurance plans can also be a great way to free up money to spend on other investments or wealth building strategies. You can use your cash value, which is an advantage that no other life insurance product offers. Whole life insurance does not crowd out other investments because of the liquidity.

With a whole life insurance policy, you can get the benefits of a permanent insurance policy coupled with an investment strategy, making the opportunities to build wealth endless. Another one of the main benefits to a whole life insurance policy is that the money that is put into the cash value account is tax-deferred. All of the money credited to the account can be free of taxes, meaning a lot more money goes to you instead of Uncle Sam.

LEI can help with all of your life insurance and financial planning needs. Our licensed life agents are knowledgeable and ready to educate you and place you in a position to make and informed decision.

Contact an LEI financial coach today to explore the endless possibilities available in a whole life insurance plan.

Click Here For a free Whole Life insurance quote assessment