Ace Benefits Group - Whole Life Insurance

What is Whole Life Insurance?

Life insurance under which coverage is intended to remain in force during the Insured's entire lifetime, providing premiums are paid

specified in the policy. A whole life insurance policy can build cash value on a tax-deferred basis. Both the premiums to pay and

the cash

values that result are predetermined and found in the policy contract. The cash value is an amount of money available to the

policy owner for

policy loans or as the surrender value if the policy is canceled and returned to the company.

Cash Value

With pure whole life insurance, the cash value is guaranteed*. As an added benefit, cash value can be used by the policy owner as a

"cash

reserve" for emergencies, extra income, or college expenses. This is considered a loan (interest charges accrue). What's

more, you're not

obligated to repay the loan, but any amount not repaid will be deducted from the policy's death benefit.**

Getting Started

* All guarantees are based on the claims-paying ability of the insurance company.

** Although the loan does not necessarily need to be repaid, the policy may go into grace and subsequently lapse due to excessive loan amounts.

Whole Life Insurance