Whole Life Insurance Online

whole life insuranceWhole life is permanent coverage that will remain in force as long as premiums are paid in a timely manner.  You can easily buy whole life insurance online. 

It has some advantages over another type of permanent coverage known as universal life.   However, its premiums are considerably higher because it generates “cash value” within the policy. 

Advantages of Whole Life Insurance Online include the tax free build up of cash, the ability to have dividends purchase additional coverage (in mutual companies), and the ability to borrow from the policy on a tax free basis under certain circumstances.

Final expense life insurance is a type of whole life policy. It is available for small amounts generally starting at a $2,000 face amount up to a $40,000 face amount.  If you want a small final expense policy (less than $25,000), this is the only option.

There are several types of whole life.

Final Expense Whole Life Insurance

This type of Whole Life Insurance is easy to get and our favorite type especially for seniors.

  • If you are looking for $2,000 up to $40,000 of coverage this may be the right product for you. (If you want a little more, you can apply to more than one carrier!)
  • Final expense coverage has simplified underwriting meaning there is no physical needed, nor blood and urine samples.
  • To be approved for this type of coverage is much easier than for other types of life insurance. 
  • This insurance is usually in force within a week or less.
  • Coverage starts on day one, there is no waiting period.
  • Your premium and your face amount remain the same for your lifetime.
  • Find out more about final expense life insurance here!

Standard (Traditional) Whole Life Insurance
This type of Whole Life insurance has been known as “permanent” life insurance for generations.  In addition to a death benefit, Whole Life is designed to provide a build up of cash value within the policy.  This cash value earns interest and/or dividends that are established by the insurance company.

Customized Whole Life Insurance
Customized Whole Life policy allows the policyholder to select how long premiums are paid.  It can be designed to maximize the cash value within the policy at different times during the insured’s lifetime for planned expenditures such as college costs and retirement planning.

Modified Premium Whole Life Insurance
Modified Premium Whole Life offers the same guarantees of traditional or customized Whole Life, however initially has a lower premium that increases in later policy years.

Talk to an independent agent today regarding which type of Whole Life Insurance Online is best for you.