Whole Life Insurance

Whole life insurance, otherwise known as permanent insurance, provides you with a fully guaranteed death benefit as well as a fully guaranteed monthly premium. As well, a portion of your cash surrender value (CSV) will be fully guaranteed, and in some cases, your entire CSV will be guaranteed contractually. What that means to you is that the decisions you make today in respect to your total coverage and your monthly premium will be the same ten years, twenty years and even forty years down the road. It is sometimes referred to as permanent insurance because it will be considered "in force" for a lifetime assuming the owner continues to pay the premiums on an ongoing basis.