Life Bridge Group

Family First Life Affiliate

(978) 995-3338 USA       (939) 402-4942 PR       (702) 843-7648 HI / NV         

Whole Life Insurance


Protect Your Family For As Long As You Live!

“If a child, a spouse, a life partner, or a parent depends on you and your income, YOU NEED LIFE INSURANCE”

Whole Life

Whole Life Insurance offers lifelong protection, but it can do much more. Whole life insurance can give you:

• Lifelong coverage to protect your family from financial loss

• Level payments that are guaranteed to never change

• A guaranteed death benefit

• An option to build cash value

What is  Whole Life Insurance

Whole life insurance is a type of permanent life insurance. It’s also the most common, according to the Insurance Information Institute. Like most permanent life insurance policies, whole life offers a savings component, called “cash value,” and life-long protection — as long as premiums are paid, whole life provides a death benefit after you die.

ADVANTAGES

Certain aspects of whole life insurance can make it an appealing choice.


• Your premiums and death benefit are fixed.


• You can withdraw funds or take out a loan.


• You have a guaranteed rate of return.

FIXED PREMIUMS AND DEATH BENEFIT


With fixed premiums and a fixed death benefit, you won’t have to worry about cost increases as you get older.


Your loved ones will know the amount of life insurance proceeds to expect when you do pass on.​

ARE THE PREMIUMS TAX FREE DEDUCTIBLES?

According to the Internal Revenue Service (IRS), you cannot deduct premiums you paid for a whole life insurance policy on your tax return.

However,if your beneficiaries receive the death benefit from your whole life policy, they likely would not have to pay federal income taxes on that benefit. 

(But, any interest earned on top of the death benefit is considered taxable income.)

CASH VALUE

A whole life policy can serve as a source of emergency funds for you.


That’s because a portion of each of your premium payments is funneled into a savings component of the policy called the “cash value.”


Over time, the cash value builds, and you’re able to withdraw funds or borrow against it.

The cash value of a whole life policy is guaranteed to earn a minimum amount of interest.

IS WHOLE LIFE THE RIGHT WAY TO GO?

A whole life insurance policy might be a fit for someone who likes predictability over time, since whole life offers death benefit guarantees, guaranteed rates of return and fixed premiums. 


You will want to talk it over with a Life Bridge Group agent and review other options before you make any decisions.


That way, you can be confident you’ve chosen the life insurance policy that’s suited just for you.

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