mib logo

Whole Life Insurance Solutions

Whole life insurance is also known as “permanent” life insurance and provides lifetime protection for both you and your household. It can be used as a continued source of income for your loved ones in the event of premature death and to pay off debts and burial expenses. It can also be used as a source of revenue during the retirement years. Whole life insurance offers flexibility in terms of how premiums are paid, how the protection is being used and how benefits are received.

The flexible nature of whole life insurance allows you to tailor your policy according to your payments and coverage options. You can also cancel your policy and receive a cash value for the premiums made. The accumulated cash value can also be converted into income for immediate usage or for retirement purposes. Holders of a participating policy will be awarded dividends and share in the success of the company. Dividends can be used as a form of investment and placed in a special “segregated fund” consisting primarily of stocks.

Whole life insurance provides lifetime protection for your family.
Whole life insurance provides lifetime protection for your family.

Instead of cashing in your life insurance policy and sacrificing your protection, you can obtain a loan from your insurance company for any amount up to the “cash surrender value” (equivalent received upon discontinuation of policy). Interest rates are affordable and your policy will remain active.

If you are the main breadwinner in your family or solely responsible for your family’s financial wellbeing, then you should consider obtaining a life insurance product. Whether it be for short term protection, as a continued source of income for a surviving spouse or children, for debt relief and funeral expenses or for retirement purposes, the invaluable benefits of life insurance is incontrovertible. Speak to a Life Insurance Broker today! Our knowledgeable and highly trained insurance advisers will equip you with expert knowledge at your fingertips. Reach us at 1 (855) 482-5001.

Latest Articles