What is Whole Life Insurance?
Your Entire Life
Death Benefits*
The Cash Value
Whole Life Insurance Policy Overview
Whole Life Insurance is a permanent life insurance policy that can cover you for a lifetime, as long as premiums are paid. Premiums are guaranteed to remain level for the duration of the policy once it is approved and the premiums cannot increase due to outside factors such as aging or new health problems.
Continue reading to find out if Whole Life Insurance may be a good choice for you and your family. If you still have questions, one of our helpful licensed life insurance agents can help provide answers.
Why Whole Life Insurance?
Whole Life Insurance is a way to help provide life-long financial protection for your loved ones today while accumulating cash surrender value that can be available in the future.
This value can be borrowed against by means of policy loans that can used however the owner wishes. Interest rates for policy loans can be competitive, and loans and accumulated interest can be paid back over varying periods of time or even subtracted from death benefits.**
How Does Whole Life Insurance Work?
- Lifetime life insurance coverage.
- Fixed payments that remain the same, even as you age.
- Accrues cash value, depending on the policy.
- Option to borrow against the cash value.
What Are Some Differences Between Whole Life Insurance and Universal Life Insurance?
Whole Life Insurance
- Guaranteed lifetime protection if premiums timely paid
- Fixed premiums
- Offers cash surrender value accrual over the life of the policy
- Generally higher premiums
Universal Life Insurance
- Flexible coverage options
- Adjustable premiums
- Options to build cash accumulation value over the life of the policy
- Fewer guarantees
Read more about Universal Life Insurance.
How Much Life Insurance Coverage Do I Need?
To choose your desired coverage amount, consider how much money your family and loved ones would need — both short-term and long-term. What immediate expenses would they need to cover if you passed away? And how much money would they need for the future?
If you have a child, you may want your insurance to help them from diapers to diploma. Or, if you have a spouse, you may want insurance coverage to help carry them through retirement.
Whole Life Insurance Rates
Whole Life Insurance premiums are frequently higher than Universal Life Insurance costs of insurance and other fees due to, among various reasons, the fact that Whole Life Insurance premiums are fixed for the lifetime of a policy. The cost of maintaining a Whole Life Insurance policy never varies.
Take Action Today
Corebridge Direct offers a variety of valuable coverage options that may help you meet your life insurance needs. To apply and purchase speak to one of our licensed agents regarding our permanent life options by calling 800-294-4544.
Additional Resources
Reviews from Customers Who Have Purchased Life Insurance through Corebridge Direct
Our satisfied customers can tell you more about our life insurance products than any advertising campaign ever could. Read reviews from real-life customers who have purchased life insurance policies from Corebridge Direct.
Hear from Our Customers Who Purchased Life Insurance through Corebridge Direct
The representatives are well trained in their field and give the customer the best plan to suit their needs at the best price. They are helpful with making the process understandable and. even help getting everything done over the phone when possible.
Easy way to shop for your insurance needs. The agents service was excellent. He was very informative and professional.
Read more of what our customers have to say and see their Life Insurance Customer Satisfaction Scores.
The endorsements/testimonials presented should not be construed as a recommendation to purchase, or an indication of the value of any product or service. The testimonials are actual Corebridge Direct customers who are not affiliated with Corebridge Direct and were not provided compensation.
*Death Benefits are generally excludable from the beneficiary’s federal taxable income under most circumstances and under current federal income tax law.
**Assumes the use of withdrawals to basis and/or policy loans. If the policy is classified as a modified endowment contact (see IRC section 7702A), withdrawals or loans are subject to regular income tax and an additional 10% tax penalty may apply if taken prior to age 59 ½ .