West Virginia Whole Life Insurance | Contact us for a quote today.
What is Whole Life Insurance?
Whole Life Insurance is life insurance that lasts for your entire life. This type of insurance also builds cash value that can be accsessed for any reason at any time. The death benefit also increases in value, significantly the longer you own a policy.
Why Would I Buy a Whole Life Insurance Policy?
A Whole Life Insurance policy provides many attractive features. Unlike Term Life, A Whole Life policy guarantees protection for your entire life, and is also eligible to receive dividends that can be accessed tax free at any time and for any purpose. Whole Life Insurance is an important foundation of any solid financial plan, and most people own a while life policy.
A participating whole life insurance policy is an excellent way to:
Provide income for a surviving spouse
Build for your children’s future
Supplement your retirement
Provide additional compensation for key employees of a business
Protect the ownership interest for a business
We like to work with mutual life insurance companies when working with whole like insurance. Mutual insurance companies consider their policyholders partial owners of the company, as this kind of life insurance contract allowes the owner to "participate" in any excess profits by returning part of the premium in what is called a dividend. Mutual insurance companies are often some of the most financially secure in the industry, wtih many achieving financial raings of A+ and A++. Dividends can be used to:
Take a cash payment in the form of a check
Increase the cash value within the policy, helping to build the cash value more significantly each year that the dividends are re-invested
Purchase paid-up additional life insurance to increase the total death benefit
Offset the premiums owed by the amount of the dividend
How do I learn more about Whole Life Insurance?
Contact us for a West Virginia Whole Life Insurance Quote today and we will guide you through the process of determining the proper amount of coverage, explaing the different types of coverage, and allowing you to select the best plan that meets your needs.
