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Whole life insurance will last as long as you live as long as you
continue to pay the premiums.
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The premiums are level and will be several times higher than the actual
cost of insurance at the age purchased in order to ensure the indefinite
financing of the policy.
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Whole life insurance develops cash values called Non-forfeiture
Values to which you will be entitled as long as you live if you
continue to pay the premiums.
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If you discontinue the policy before death, you are entitled to receive
the cash value. The amount of the cash value will depend upon the
insurance company, but this is generally regarded as a lower return
than if the money were invested elsewhere. |
