Whole Life Insurance

Investing In Your Family’s Future

Looking for a simple, straightforward way to secure the future of your family’s financial stability? Then whole life insurance might be the right policy for you! With perks such as a guaranteed death benefit, a savings component in which cash value can grow and be invested, and premiums that won’t suddenly increase, whole life insurance is a safe way to protect your loved ones without having to worry about a policy expiration date.

Contact King Insurance today to learn more about whether a whole life insurance policy is right for you!

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What Is Whole Life Insurance?

Whole life insurance is one of the most common types of permanent life insurance (also known as cash value life insurance), which allows the insured to maintain lifelong coverage as long as their premiums are paid. As opposed to other permanent life insurance policies, such as variable universal life insurance, that offer adjustable premiums — whole life offers consistent premiums and assured cash accumulation. 

The following are a few of the primary benefits of a whole life insurance policy:

  • No Policy Expiration Date
  • Fixed Premiums
  • Guaranteed Death Benefits
  • Tax-Deferred Cash Value Growth
  • Funds May Be Withdrawn

How Cash Value Accumulation Works In Whole Life Insurance

Whole life insurance policies act as an investment vehicle of sorts, as they have a cash value that can accumulate over time. Essentially, a portion of the policyholder’s premium payments is put into a cash-value account where money grows at a set rate on a tax-deferred basis. Every premium payment a policyholder makes increases their cash value. Additionally, policyholders have access to their cash while alive, as they’re allowed to withdraw or borrow against the money in their cash value account when needed. However, different companies and their policies will likely hold varying regulations on how and when a policyholder can access their cash.

Is Whole Life Insurance Right For Me?

Like other life insurance policies, whole life insurance pays a death benefit to the policyholder’s beneficiaries should the policyholder pass while their policy is active. While more expensive than term life insurance policies, whole life insurance’s dependability and tax-free cash value saving component makes it the perfect policy for high-earning individuals aiming to secure their family’s financial standing after they’re gone. Also, individuals with a lifelong dependent might find whole life coverage to be a solid life insurance policy that can grant them peace-of-mind. 

Insurance Agents In Gainesville, FL

Are you interested in learning more about whole life coverage or other available life insurance policies? Contact our insurance agency to have your questions answered by one of our experienced agents! We offer a variety of insurance options, each of which is competitively-priced and customizable. Call King Insurance today to find the right life insurance for your needs!

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