Whole Life Insurance Protect Your Loved Ones For a Lifetime

Permanent coverage that can build cash value.

Find A Representative

Term Life Insurance | Family Term Life Insurance | Universal Life Insurance

Get To Know Whole Life What is Whole Life Insurance?

Whole life insurance is permanent insurance that will cover you throughout your life and builds cash value over time. Including Whole Life insurance in your long-term financial plan can be a reliable way to protect your family’s financial future while you aim to meet other financial goals. The death benefit offers financial security by providing money to help pay for funeral costs and debts. This permanent insurance also can build cash value on a tax-deferred basis.

Why Choose Whole Life Insurance?

Whole Life insurance is a great option for locking in permanent life insurance at a premium rate that will remain the same until the certificate is paid in full. You can choose from a number of different time periods to pay for your certificate (10 or 20 years, or when you reach age 65 or 100). Once the certificate is paid up, you are covered until age 121.

How Does Whole Life Insurance Work?

With Whole Life insurance, you pay a set premium amount, which most people pay on a monthly basis. Your premiums will never increase, regardless of your age or health. When you pass away, the beneficiary or beneficiaries you have chosen will receive the death benefit tax-free as long as all premiums have been paid.

Your beneficiary can use this money to help with your final expenses, like paying off any debts you may owe or paying for your funeral. Whole Life also builds cash value on a tax-deferred basis. If there is enough cash value available, you may be able to take out a loan from your certificate if needed8.

Is Whole Life Right for You? Types of Whole Life Insurance

WoodmenLife offers several types of Whole Life insurance:

Whole Life Paid-up at 100

This option offers more affordable premium rates than other Whole Life plans by allowing you to pay premiums until age 100.

Whole Life Paid-up at 65

This type of Whole Life is perfect if you want to finish paying premiums before you retire. It builds cash value during your working years, and you pay premiums until you reach age 65.

10 Pay or 20 Pay Whole Life

These options allow you to pay for your permanent insurance more quickly, in either 10 or 20 years with a limited number of premium payments. These products are ideal for insuring children. In this case, the cash value can also be used for things like paying for college or to cover other expenses8.

Life insurance calculator

How Much Do You Need?

See How It WorksFind A Representative

Customize Your Coverage Insurance Add-ons

Included Add-ons

You can add one of these two riders to your Whole Life insurance at no extra cost:

  • If you are diagnosed with a terminal condition, you can receive a portion of your life insurance benefits4 while still living.

  • If you develop one or more qualifying conditions, you may receive a portion of your life insurance benefits5 while still living.

Optional Add-ons

You can choose to add additional riders to your Whole Life certificate, for a fee, to receive more customized benefits:

  • Provide extra life insurance coverage that takes effect if your death is accidental. This rider is available on whole and universal life, and on some types of term life.

  • If you have purchased life insurance for a child who is age 15 or younger, and you are listed as the owner on the child’s certificate, this rider helps if you ever become disabled. It will pay the monthly premium on the youth’s life insurance certificate if you become disabled within the contractual terms of this rider.

  • Prepare for the unexpected with this add-on. If you become disabled within the contractual terms of this rider, your premiums will continue to be paid.

  • Purchase additional insurance coverage without proof of insurability in the future. You will be able to make these increases at specific ages and when certain life events occur, such as marriage, and the birth or adoption of a child.

Compare Coverage Whole Life vs. Other Types of Insurance

Use the interactive tool below to compare the different types of insurance and find the right coverage for your needs.

why woodmenlife

Discover The Value We Bring

A Life Insurance Company that Gives Back

WoodmenLife Extras You Can Use Now

Strengthening Communities

Connect with WoodmenLife

a sales career representative

Find A Local Representative

A local WoodmenLife Representative can help you choose the best retirement products for where you are in life.


There may be tax implications for policies recognized as modified endowment contracts (MECs). Distributions, including loans, from a MEC are taxable to the extent of the gain in a policy, and may also be subject to a 10% additional tax if the owner is under age 59½.

Excessive loans or withdrawals may cause the policy to lapse. Loans and withdrawals will reduce the policy’s death benefit and available cash value. For Indexed Universal Life certain charges will not reduce when decreasing the face amount of insurance or after taking withdrawals from the policy. Consult your policy for details. A loan, withdrawal or surrender may be a taxable event. For tax advice, consult with your professional tax advisor.

  1. Death benefit proceeds from a life insurance policy are generally not included in the gross income of the taxpayer/beneficiary (Internal Revenue Code Section 101(a)(1)). There are certain exceptions to this general rule including policies that were transferred for valuable consideration (IRC §101 (a)(2)). This information should not be construed as tax or legal advice. Consult with your tax or legal professional for details and guidelines specific to your situation.

  2. Once the initial policy term ends, your premiums will increase on an annual basis until age 95. Any increase in premium will not increase the certificate benefits.

  3. Universal Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. This certificate could lose money. WoodmenLife will provide notification if the guaranteed monthly deductions and interests are expected to exhaust the plan’s cash values prior to the maturity date. This certificate is not guaranteed to stay in force until maturity based on minimum guarantees.

  4. Accelerated Death Benefit Rider: Forms ICC10 264 6-10, 264 6-10 (XX), O-264 6-10 (XX), ICC10 257 6-10, 257 6-10 (XX), O-257 6-10 (XX). All contractual provisions apply and may vary by state. Benefit payments may affect eligibility for public assistance programs. Maximum benefit is the less of $250,000 or 65% of death benefit amount available and is usually paid in one lump sum. Generally, benefits received are income tax-free. Consult your tax professional to assess the impact of this benefit.

  5. Chronic and Terminal Illness Accelerated Death Benefit Rider: Forms ICC17 8690 1-17, 8690 1-17, ICC18 8731 4-18, 8731 4-18 (XX). All contractual provisions apply and may vary by state. Benefit payments may affect eligibility for public assistance programs. Certain eligibility requirements apply. This rider is not long-term care insurance. Maximum benefit for terminal illness is the lesser of $250,000 or 65% of death benefit amount available and is usually paid in one lump sum. Maximum benefits for chronic illness is the lesser of $250,000 or 50% of the death benefit amount available, subject to the annual per diem limitation declared by the Internal Revenue Service. Payments made under this rider are intended to qualify for favorable tax treatment under the Internal Revenue Code. As with all tax matters, a tax professional should be consulted to assess the impact of this benefit. Not available in CA.

  6. These riders are available for an additional fee. All contractual provisions apply and may vary by state. May not be available on all products.
    Accidental Death Benefit Rider: Forms 260-XX-0409, 260-04-1401, 260-08-0803, ICC10 8207 3-10, 8207 3-10 (XX), O-8207 1-14 CA, O-8207 3-10 (XX)
    Disability Waiver of Premium Rider: Forms ICC16 8649 1-16, 8649 1-16 (XX), 262-04-1401
    Waiver of Monthly Deduction Rider: Forms ICC10 8206 3-10, 8206 3-10 (XX), O-8206 3-10 (XX), O-8206 1-14 CA, ICC11 8308 5-11, 8308 5-11 (XX), O-8308 5-11, O-8308 1-14 CA
    Applicant Waiver of Premium Rider: Forms 263-XX-0409, 263-04-1401
    Applicant Waiver of 2x Monthly Deduction Rider: Forms ICC11 8309 5-11, 8309 5-11 (XX), O-8309 5-11
    Guaranteed Insurability Rider: Forms 261-XX-0409, ICC11 8310 5-11, 8310 5-11 (XX), O-8310 5-11

  7. A minimum initial face amount of $75,000 is required on Indexed Universal Life insurance certificates for issued ages 0-18 years.

  8. Loans against the cash value of your certificate will accrue interest, reduce the death benefit and reduce available cash value. A loan, withdrawal or surrender may be a taxable event. For tax advice, consult with your professional tax advisor. Excessive loans or withdrawals may cause the policy to lapse.

Certificate Forms ICC16 8648 1-16, 8648 1-16 (XX), ICC17 8678 1-17, 8678 1-17 (XX), ICC17 8679 1-17, 8679 1-17 (XX), ICC16 8063 R-1-16, 8063 R-1-16 (XX), ICC10 8205 3-10, 8205 3-10 (XX), O-8205 3-10 (XX), ICC18 8730 4-18, 8730 4-18 (XX). All products may not be available in all states. These certificates have exceptions, limitations and restrictions. For costs and complete details in coverage, contact a WoodmenLife Representative.

Web 32 R-7/24

Life Insurance

Retirement Plans


About WoodmenLife



YouTube LogoFacebook LogoX LogoInstagram Logo

WoodmenLife in Your Inbox

Email Sign Up

Customer Support


Monday – Thursday
7:00 AM – 5:00 PM CT

7:00 AM – 12:00 PM CT

For Medicare Supplement


Fraud, Ethics and
EEO Reporting Hotline


Do Not Sell or Share My Information

Our Mission

Uniting hardworking Americans to secure their financial future while strengthening our communities and country.

This is a solicitation of insurance and an agent/producer may contact you.

WoodmenLife Medicare Supplement plans are not connected with or endorsed by the U.S. government or the federal Medicare program.

NOTE: In some states, Medicare Supplement certificates (all plans in CO) are available to those eligible for Medicare due to a disability, regardless of age.

Securities are offered through Woodmen Financial Services, Inc. (WFS), 1700 Farnam Street, Omaha, NE 68102, member FINRA/SIPC, a wholly owned subsidiary of Woodmen of the World Life Insurance Society (collectively “WoodmenLife”). Securities other than the WoodmenLife Variable Annuity are issued by companies that are not affiliated with WoodmenLife. This material is intended for general use with the public. WFS is not providing investment advice for any individual or any individual situation, and you should not look to this material for any investment advice. WFS has financial interests that are served by the sale of these products or services.

WoodmenLife Extras are available to members. An individual becomes a member by joining our shared commitment to family, community and country, and by purchasing a product. These extras are not contractual, are subject to change and have specific eligibility requirements, such as length of membership, number of qualifying members in household and/or qualifying event.

Check out the background of Woodmen Financial Services, Inc. on FINRA’s BrokerCheck.

Business Continuity Plan | All products may not be available in all states. | Not all Representatives are licensed to sell all products.

A+ Financial Rating

Effective Feb. 1, 2024, WoodmenLife is rated A+ Superior by AM Best for our financial strength and operating performance. For the latest Best’s Credit Rating, access www.ambest.com

International Use

This Site is not intended for access outside of the United States, including those individuals who reside in the European Economic Area (“EEA”). WoodmenLife makes no representation that materials on the Site are appropriate or available for use in locations outside of the United States, and accessing them from territories where their contents are illegal is prohibited. Those who choose to access the Site from outside of the United States do so on their own initiative and are responsible for compliance with local laws.

Ratings & Awards

View All
This company was issued a secure rating by the A.M. Best A+ Superior Company

A proud member of:

WoodmenLife is a proud member of American Fraternal Alliance

© 2024 Woodmen of the World Life Insurance Society
Omaha, Nebraska