Whole life insurance provides permanent protection for your family with premiums that never increase. Better still, a whole life policy builds cash value that you can use while you are living to reach your financial goals. Contact Blue Bear Insurance Services to speak with one of our local agents about whole life insurance.
Benefits of Whole Life Insurance
We all want to know that our loved ones are protected and will not suffer financial devastation should an unexpected death occur. Whole life insurance offers both immediate and long-term advantages, including guaranteed death benefits, growing cash values, and potential dividend earnings.
Death Benefits
With whole life insurance, your premiums will never increase, your coverage won’t change, and protection for your family is guaranteed to last a lifetime.
Cash Value
A whole life policy builds cash value over time, which is guaranteed to grow regardless of market conditions. With this policy, you can borrow against cash value for any purposes such as emergency expenses, college tuition or supplement retirement income. With this, this living benefit makes whole life insurance both a protection plan and a long-term financial asset.
Dividend Opportunities
Whole life policyholders are eligible to receive dividends, which can be used to increase insurance protection and cash value. Although they are not guaranteed, some insurance companies consistently pay dividends to participating policyholders.
Cost of Whole Life Insurance
Average rates are typically higher on whole life than on term life insurance policies because whole life policies have cash value buildup. Factors that affect the cost of your policy include:
- Age
- Gender
- Overall health
- Occupation
- Location
Our agents at Blue Bear Insurance Services can help you find a whole life policy that provides the most benefits for the best available rates.