Whole life insurance is a type of permanent life insurance that covers the insured party for as long as they live, provided they continue paying their premiums. The death benefit from a whole life insurance policy is almost certainly guaranteed to the beneficiaries, regardless of how much time has gone by since the policy was purchased. The premiums for a whole life insurance policy generally do not fluctuate and the policy’s cash value grows at a fixed interest rate, as opposed to universal life insurance which offers more flexible premiums and is subject to changing interest rates.

The Benefits of Whole Life Insurance  

A whole life insurance policy is suitable for a client who is considering their long-term responsibilities, such as ensuring income for a surviving spouse. Unlike term life insurance, whole life insurance policies include a cash accumulation feature that can generate value over time. With such a feature, clients are able to take out loans from the cash value that has accumulated in their whole life insurance policies as a way to help pay expenses — such as retirement costs or your children’s college expenses — while still retaining their overall coverage. As with any other kind of life insurance, the younger and healthier a person is when purchasing the policy, the more affordable it will be.

Get Started Today

When you become an independent agent with MCC Brokerage, we’ll provide you with the information you need to help your clients make the coverage decisions that work best for them and their families. To learn more about our whole life insurance options, or to begin contracting with us, contact MCC Brokerage today.