What is whole life insurance?
Whole life is a form of permanent life insurance. It combines a death benefit with cash value, subject to the policy’s terms. The premium is generally higher than comparable term coverage because the protection can last longer and includes additional features.
How it works
You pay the premiums required by the contract. If the policy remains in force, it can pay a death benefit to your named beneficiaries. Some policies allow loans against cash value; loans, interest, and withdrawals can reduce the amount available to your family or cause the policy to lapse.
Situations worth discussing
- A need for coverage beyond a fixed number of years
- Preference for generally predictable premiums
- Long-term planning for beneficiaries
- A budget that can support permanent-policy costs
Bring your questions to Direct Life Advisors
We can help you understand the choices and prepare for an informed decision. Product availability, premiums, and eligibility must be confirmed for your state and circumstances. No coverage is in force until the insurer’s requirements are met.