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Whole Life Insurance


Whole Life Insurance Information

What is whole life insurance?

Whole life insurance provides financial protection over your entire lifetime. This is different from a term life insurance policy, which provides protection for a specified period of time. Also, known as ordinary life or straight life, whole life insurance is in the cash value category of life insurance. Universal life, variable life, and endowment policies are also in this category.

The premiums of whole life insurance are fixed at the age you buy your policy and do not change as you get older. As long as you pay the monthly premium, your beneficiaries receive a payout upon your death.

What are the benefits of whole life insurance?

Whole life insurance doubles as both comprehensive coverage and an investment tool. Many of these policies invest part of your premium to allow your policy to accrue cash value. You can save these additional funds as part of the death benefit payout. Or, you can withdraw funds to support big life events, such as buying a new home or sending a child to college.

Because whole life is more comprehensive, premiums often cost more than term life insurance. But, you get a lot more bang for your buck. Plus, your premium remains the same throughout your life. With term life insurance, your rate is recalculated each time you renew coverage.

Get started today!

Want to know more about whole life insurance and how much it might cost you? Call us today for a free, no obligation quote. We’ll find a policy to fit your needs. All it takes is a few minutes to provide your family with years of financial protection.




 
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Securities and investment advice offered through Investment Planners, Inc. (Member FINRA/SIPC) and IPI Wealth Management, Inc., 226 W. Eldorado St., Decatur, IL 62522. 217-425-6340.
Tomei Insurance Agency is not affiliated with Investment Planners, Inc. or IPI Wealth Management, Inc.
Insuring: Gurnee, Waukegan, Zion, Mundelein, Libertyville, Grayslake, Antioch, Ingleside, Round Lake, Round Lake Park, Round Lake Beach, Beach Park, and Great Lakes, Illinois as well as Kenosha, Racine and Pleasant Prairie, Wisconsin. Along with other counties in Lake County, IL and we're just a short 40 miles north of downtown Chicago.
 Check the background of this firm on FINRA’s 
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Check the background of this investment professional on FINRA’s
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223 N. IL Route 21 (at Washington St) | Gurnee, IL 60031
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