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Whole Life Insurance

Whole life is a form of permanent life insurance that remains in force during the insured person's lifetime, provided premiums are paid as specified in the policy. With this type of coverage, you can collect a part of your investment as you live, and it can build cash value, which can be used to pay the premiums. The interest you accumulate through the investment part of your policy is tax-free until you withdraw it. One reason that whole life insurance remains popular is that the premiums are fixed, and no matter what your age or how your health is, you’ll pay the same amount every year.
Features of Whole Life Insurance:
  • Level premiums – premiums stay level for the life of the policy.
  • Payable for life – provides life insurance coverage for as long as the policy remains in force.
  • Pays dividends* – when we have profitable years, we share the profits with you.
  • Guaranteed cash value** – you may borrow against your policy at the current loan rate. Upon surrender, the cash value would be available to you.
  • Cash value growth is tax-deferred – The growth in cash values is tax-deferred under current federal income tax law.
  • Death benefit – life insurance proceeds are generally income tax-free to the beneficiary.*Dividends are not guaranteed **The amount of your guaranteed cash value depends on the kind of permanent (whole) life policy you owned, its size, and how long you have owned it. Borrowed amounts reduce the death benefit and cash surrender value.
With so many options, many people find themselves overwhelmed when they receive life insurance quotes. Let one of NorCal Quote's life insurance professionals put together the right FREE life insurance quote for you.