Whole Life Insurance provides coverage for the life of the insured
Experior Financial Group Inc.
Whole Life Insurance provides coverage for the life of the insured. It provides a death benefit and it may also contain a savings component where cash value can accumulate. These policies are also known as permanent life insurance. Whole Life Insurance guarantees payment of the death benefit in exchange for regularly due premium payments. The savings portion in the policy can be called the cash value or cash surrender value. Interest may accumulate in the savings component on a tax-deferred basis