Whole Life Insurance

One premium, one plan that fits your whole life through

Give your loved ones peace of mind and protect them from the financial impact of your death. Whole Life Insurance provides lifelong protection. Over time, Whole Life policies build cash value that grows tax-deferred and can be accessed during your lifetime.

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Get lifelong protection that builds cash value

Whole Life Insurance is ideal for permanent coverage that remains consistent throughout your life.

Whole Life Insurance provides a fixed coverage amount with premiums and benefits that won’t change as you grow older. The policy can build cash value over time — which you can apply toward a paid-in-full life policy or even borrow against later. Other benefits include guaranteed coverage, family options, additional payments for covered accident-related claims and early payouts for terminal illness.

  • Whole Life is the ideal coverage for people who want coverage to stay consistent over their lifetime.
  • Coverage and coverage amounts stay the same as long as you make payments.
  • Payments stay consistent throughout the life of the policy.

Costs, eligibility and waiting periods before benefits are dispersed can vary depending on your plan. Talk to your human resources representative for more details.

Michael holding his one year old daughter

See how Whole Life Insurance can provide peace of mind

Michael’s employer provides a basic amount of Term Life Insurance, which was enough when he was single. Now he has a family, a mortgage and many other responsibilities. With an easy, affordable paycheck deduction, Michael was able to add Whole Life Insurance to his benefits plan. With this coverage, he knows his family will be better protected if he dies. His policy will also gain cash value, so Michael and his family will have additional financial options as they grow older.

How Michael’s plan works:

If Michael dies, his loved ones can use the money for:

  • Mortgage
  • School tuition
  • Final expenses
  • Monthly bills

Michael might also appreciate these benefits:

  • A guaranteed interest rate
  • The ability to borrow against the cash value
  • Flexibility to use the cash value for a paid-in-full, smaller policy later in life

If Michael has a plan with a “living” benefit:
He could receive up to 100% of his benefit amount if he is diagnosed with a terminal illness.

For illustrative purposes only. Coverage plans may vary.

Commonly asked questions about Whole Life Insurance

What is Whole Life Insurance?
Whole Life Insurance can also pay a benefit to your loved ones if you die. But unlike Term Life Insurance, Whole Life coverage can continue through retirement — and can build cash value. You can also purchase individual coverage for your spouse, children and grandchildren.
Am I guaranteed coverage?
You will be asked some health questions. Your answers will be used to determine whether you are eligible for coverage.
What is the interest rate for building cash value?
This policy can build cash value at a guaranteed minimum rate. Once your cash value builds to a certain level, you may use it to buy a paid-in-full policy with no more premiums due, or borrow from it.
Can I keep my coverage if I leave my job?
Yes, in most cases. See your employer for details.
Can I increase my coverage later?
Yes. You may need to answer health questions.
Should I consider purchasing Whole Life Insurance if I have Term Life Insurance?
Yes. Whole Life Insurance can provide an additional layer of protection.

Underwritten by Provident Life and Accident Insurance Company.
In New York, underwritten by First Unum Life Insurance Company.