Basic Life Insurance

Whole Life Insurance is lifetime insurance. It protects your life from the time you purchase the policy till you die. You can also prepare for the financial needs of your family when you die. This type of insurance provides you not only basic insurance protection but also mortgage protection, estate preservation, retirement funding, charitable giving and business needs. After the first year, the policy starts to accumulate cash value. It can earn dividends which can fluctuate from year to year. When the insurer dies, the insurance company will pay the beneficiaries the death benefit. It is free from federal income tax.