Whole Life Insurance will provide protection from the day you purchase the policy until you die. In addition, premiums will remain the same throughout the life of the policy.
A Whole Life Insurance policy may let you
- Earn annual dividends1, which will be paid in cash, left to accumulate interest, or used to reduce premiums or purchase additional coverage.
- Borrow the cash value, or receive dividends as loans (in some cases).
- Appoint a charity as a beneficiary of your policy.
Additionally, your survivors can use the proceeds to
- Pay off mortgages and other outstanding debts.
- Avoid having to sell assets or incur debt to cover estate taxes and other expenses.
Other policy options
There are several options that can be added on as well:
- A waiver of premium. This allows the premium to be waived after six months of total disability.
- An accidental death benefit rider. This increases the death benefit in case of accidental death.
- A payor benefit. This provides continuous premium payments for a specified time if the payor of a child's life insurance policy dies or becomes totally disabled.
- A guarantee of insurability. This allows for the purchase of additional life insurance at certain intervals without proof of good health.
- A paid-up additional insurance rider. This allows for the purchase of additional life insurance, with proof of good health, while premium is still being paid. These additions can increase your policy's surrender value and death benefit and can also earn dividends.1
1 Dividends are not guaranteed.
The product information contained on this website is informational only and not a statement of contract. All coverage options are subject to the provisions of the policy purchased and details of the policyholder's situation.
Shelter Life Insurance Company, 1817 West Broadway, Columbia, MO 65218
Policy form #L-001.12 in AR, OK, TN; L-001.13 in CO, IA, KS, KY, MS, MO, NV; L-001.23 in IL; L-001.15 in IN; L-001.16 in LA; L-001.22 in NE. Not available in all states.