Lifelong protection, lifelong peace of mind

What Is Whole Life Insurance?

Whole life policies are for qualifying persons aged 0-85. It is permanent insurance that covers you up to age 121. Premiums are fixed (they do not change), and they accumulate cash value, which means you can borrow money against your life policy. Whole life is a perfect investment for anyone that needs life insurance.

Why Do You Need Whole Life Insurance?

Whole life insurance ensures that your loved ones are financially protected in the event of your passing. It provides a death benefit that can help cover funeral expenses and outstanding debts and provide income replacement for your beneficiaries. Knowing that your family will be taken care of can bring you peace of mind.

A unique feature of whole life insurance is the cash value component. As you pay premiums, a portion of the payment accumulates in a cash value account that grows over time. This cash value can be accessed through policy loans or withdrawals, offering a source of funds for emergencies, education expenses, or supplementing retirement income.

Whole life insurance also provides certain tax advantages. The cash value growth is tax-deferred, meaning you don’t pay taxes on the accumulated cash value unless you withdraw it. Additionally, the death benefit is generally income tax-free for your beneficiaries, providing them with a tax-free lump sum payment.

How Can Porter Insurance Professionals Help?

Porter Insurance Professionals specializes in whole life insurance and can assist you in navigating the complexities of this type of coverage. We will provide expert guidance and help you understand the intricacies of whole life insurance. We will explain the various policy options, coverage amounts, premium rates, and riders available. We’ll take the time to understand your unique needs and goals to recommend the most suitable whole life insurance solution.

We recognize that everyone’s financial situation is unique. Our team will work closely with you to assess your needs, financial goals, and risk tolerance. Based on this evaluation, we’ll customize a whole life insurance plan that aligns with your specific requirements and provides the desired level of coverage.

Contact Us

Call us today at 1-844-300-0011 to set up a consultation. You can also reach us here.