Whole Life is one of the most common types of Permanent Life insurance. With Whole Life insurance policies, the cash value accumulates at a guaranteed interest rate and typically the policy owner may borrow against the cash value of the policy. Some Whole Life insurance policies can produce excess credits, which can be used to purchase additional paid-up Life insurance, increasing the available death benefit.
Simple Whole Life1
Simple Whole Life is a modernized Whole Life insurance policy combining the traditional guarantees of Whole Life with flexible riders (available at an additional cost), Excess Credits, and potential Multiple Policy rates for customers with additional policies insured through The Insurance Teacher.
Simple Whole Life features guaranteed level premiums, payable to age 100, and guaranteed cash values. Unlike Universal or Variable Universal Life insurance policies, the cash value, premium requirements, and death benefit of Simple Whole Life policies do not vary based on prevailing interest rates or market performance. It may be an ideal product for customers seeking maximum certainty with permanent, lifelong coverage.
Features
- Simplified Underwriting
- Multiple Policy rates available
- Approval in only a few minutes
Graded Death Benefit Whole Life2
To help prepare for life’s unexpected expenses, the Graded Death Benefit Whole Life is a Life insurance policy for those who need Permanent insurance coverage with cash values and guaranteed level premiums.
With a simplified underwriting process, our Graded Death Benefit Whole Life policy could offer highly rated or otherwise uninsurable individuals an opportunity to obtain permanent Whole Life coverage.
Features
- Simplified underwriting
- No medical exam, just three simple health questions to determine eligibility
- Cash value accumulation
Premier Whole Life3
For level insurance coverage throughout the life of the insured, Premier Whole Life features guaranteed level premiums and cash value accumulation.
Features
- Optional benefits while you’re living
- Cash value accumulation
- Lifetime level premiums
- Lifetime Life insurance coverage
1 Policy Form 2008-352
2 Policy Form ICC11-2011-123 or applicable state variation. Graded Death Benefit Whole Life Insurance policy. Limited Death Benefit during the first two policy years.
3 Policy Form 1995-112 or applicable state variations
Customers qualifying for the Customer Discount may receive up to a 6% discount on the base premium rate per thousand.