Whole Life

Whole life insurance is intended to outlast you. As long as the applicable payments are paid, coverage is available up to the age of 121. From the day your coverage is issued until the day premiums are no longer required at the age of 100, premiums never increase. Initial premiums are larger than for term insurance, with funds accruing as cash value within the policy. The most conservative permanent life insurance is whole life, with guaranteed level premiums, assured cash value buildup, and a guaranteed death benefit.