Whole Life Insurance Protection

Including Whole Life insurance in your long-term financial plan can be a dependable way to protect your family's lifestyle while you strive to meet your financial goals. The death benefit offers security by providing money to help pay for funeral costs and take care of debts. This permanent insurance also builds cash value on a tax-deferred basis.

Whole Life Advantages

There are several reasons why Whole Life insurance might be the right solution for you:

  • The confidence of permanent life insurance protection.
  • Premiums that never increase, regardless of age or health.
  • Certificate cash values grow tax-deferred until received.
  • A death benefit paid to beneficiaries income tax-free.
  • Certificates may be eligible for refunds – similar to dividends – each year.

Dependable Insurance Protection

You can plan for some situations, but for many you can’t. To help ease the burden of expenses when the worst happens, choose Whole Life to help with the following:

  • Funeral costs
  • Unsettled debts like credit cards, car loans and medical expenses
  • Mortgage payments
  • College payments
  • Bills such as rent, utilities and groceries
  • Charitable donations

Tailored to You

WoodmenLife offers several types of Whole Life insurance to fit a variety of needs. Choose from:

  • Whole Life Paid-up at 100 generally offers lower premiums than other Whole Life plans, although they are paid until age 100.
  • Whole Life Paid-up at 65 builds cash value fast with premiums paid until age 65. This is perfect if you want to quit paying premiums when you retire.
  • 20 Pay Whole Life features premiums paid for 20 years and quick-building cash value. This is ideal for insuring children and individuals wanting to make a limited number of premium payments.
  • Single Premium Whole Life offers a single premium payment option with fast accumulation. Cash value growth and death benefits are guaranteed.

Additional Options

For a fee, riders can be added to basic Whole Life certificates to enhance their value:

  • Accidental Death Benefit Rider – Provides extra life insurance coverage in case of your accidental death.
  • Waiver of Premium Rider – Ensures premiums will continue to be paid if you become disabled within the contractual terms of this rider.
  • Applicant Waiver of Premium Rider – When purchased for someone age 15 or younger, this rider ensures that premiums will continue to be paid on the youth’s life insurance certificate in case of your death or disability within the contractual terms of this rider.
  • Guaranteed Insurability Rider – Gives you the ability to purchase additional insurance coverage in the future at specific ages and when certain life events occur, such as marriage and the birth or adoption of a child. The additional insurance may be purchased without proof of insurability.
  • Accelerated Death Benefit Rider – Individuals with a terminal condition can receive a portion of their life insurance benefits while still living.

A Quick Comparison of Whole and Term Life

Whole Life Insurance Term Life Insurance
Coverage Permanent Temporary (with option of converting to permanent later)
Benefits Premiums never go up
Builds cash value
Death benefit proceeds paid income tax-free to beneficiary
Less expensive in the short-term
Death benefit proceeds paid income tax-free to beneficiary
Types Whole Life Paid-up at 100
Whole Life Paid-up at 65
20 Pay Whole Life
Single Premium Whole Life
10 Year Term
15 Year Term
20 Year Term
30 Year Term
Youth Term
Issue Ages Varies by type of whole life, from ages 0-85 Varies by type of term, from ages 0-80

Meet Your Goals

Carefully consider your needs and finances before choosing an insurance product. To learn more about Whole Life insurance, contact your local WoodmenLife Representative.

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