Whole Life policies provide a death benefit for your lifetime while also building cash value and earning dividends. Coverage ranges from $5,000 to $5 million.
Secure Basic Whole Life: Paying fixed premiums to age 100 makes this the most budget-friendly way to own whole life insurance. Or, opt to pay fixed premiums to age 65, during your working years, for a lifetime of coverage.
Secure 10-Pay or 20-Pay Life: Pay the premiums over a 10- or 20-year period, maximizing cash value growth and locking in long-term benefits.
Secure Cash Advantage Whole Life: Accelerates cash value and dividend accumulation for retirement, education or other significant events.
Secure Single Premium Whole Life: Pay the policy’s entire premium upfront. This plan may be a good fit for charitable giving or special needs planning.
Secure Cash Advantage Single Premium Whole Life (SPWL): Pay a one-time premium for the entire policy. Built for those who are more concerned with higher cash value. In many cases, these have cash surrender values equal to the initial premium at the end of the first year.
The ability to buy additional coverage without going through the typical underwriting process can be valuable as you age or experience changes in your health.
Converting policy dividends into additional coverage also increases your protection and builds more cash value. You can also increase your coverage, as well as the policy’s cash value, by paying additional premiums.
If you become disabled, your premium payments are waived and your policy remains in force for as long as you are disabled.
If your death is the result of an accident, your beneficiaries will receive an additional benefit.
Known as living benefits, these riders each allow you to tap into a portion of your death benefit to help cover the costs of treatment or care.
Adding coverage for family members as part of your Whole Life policy can be a convenient way to further protect your family.
Policy will mature when insured reaches age 121. Payment of dividends are not guaranteed as the assumptions on which they are based are subject to change. Loans and withdrawals taken against a permanent life insurance policy will reduce the death benefit and may result in a taxable situation. Policy and features are subject to approval and may not be available in all states. Please see policy and riders for complete details. GBU and its agents do not provide tax, legal or investment advice. Please consult with a legal or tax professional prior to the purchase of any contract. Contract Form Series: ICC20-WL, FL20-WL.2, ICC20-SPWL, FL20-SPWL.2.
Gifts for children and grandchildren
Purchasing a Whole Life insurance policy for your child or grandchild is a forward-looking gift that guarantees insurability and savings. Youth 3 Pay Life life insurance is designed especially for children up to age 17.
Premiums are paid in three annual installments. Along with life insurance protection from $5,000 up to $50,000, the Youth 3-Pay Life policy accumulates cash value that can be borrowed against or used for education, to buy a home or for emergencies.
Policy will mature when insured reaches age 121. A parent or legal guardian must sign the application. If the policy is to be owned by someone other than the parent or legal guardian, the parent or legal guardian must also sign the application. Payment of dividends are not guaranteed as the assumptions on which they are based are subject to change. Loans and withdrawals taken against a permanent life insurance policy will reduce the death benefit and may result in a taxable situation. Riders are optional and have additional fees associated with them. Policy and features are subject to approval and may not be available in all states. Please see policy and rider coverage for complete details. All contracts are subject to approval. Contract Form Series: ICC19-Y3Pay, FL20-Y3Pay, ICC19-Mem3Pay, FL20-Mem3Pay.
