Whole Life Insurance

Whole life insurance offers guaranteed, reliable coverage to last your entire lifetime. Ideal for personal and business needs, it provides permanent protection you can count on and guaranteed cash values that grow over time in a tax sheltered contract.

Compared to term life insurance, permanent life insurance premiums are initially higher.  However, in the long run, it is often the more cost-effective decision especially for younger people.  Unlike term life insurance, which covers the contract holder until a specified age limit, a traditional whole life policy never runs out. Upon the inevitable death of the contract holder, the insurance payout is made to the contract beneficiaries. These policies also include an investment component in the form of dividends, which accumulates a cash value that the policyholder can withdraw or borrow against in the future.  Traditionally these dividends have been quite stable especially in some of the larger companies and are currently yielding over 6% which is credited to the policyholders policy account (similar to universal life).  One compelling advantage with whole life is that the account value interest is vested each year.  Under the right circumstances, some investment professionals recommend this as a viable alternative to fixed income investments such as GIC’s.

We will find the best Whole Life Insurance Carrier for your specific situation providing a policy that generates the maximum value for your premium dollar.  At the same time, you have peace of mind knowing that your business and or family’s future is protected by insurance.

© Scrivens Insurance and Investment Solutions 2017

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