Whole life insurance, also called permanent life insurance, provides coverage for your entire life as long as you pay your monthly premium, unlike term life insurance, which provides coverage for a set amount of time. Whole life insurance policies also build cash value over time, setting aside a small part of each monthly payment after the initial policy years. Term life insurance policies typically do not build cash value.

One of the key benefits of whole life insurance is having life insurance coverage for your lifetime. Coverage doesn’t end after 20 or 30 years. You can lock in a premium rate that will never increase for as long as you own the policy (as long as premiums are paid), making your payments predictable and easier to plan into your budget. Whole life insurance builds cash value over time that you can borrow against should the need arise.*

*Policy loan interest rate is 8%. Loans may impact cash value and death benefit.

After the initial policy years, each time that you pay your premium, Gerber Life sets aside a small amount, which builds up over time as the life insurance policy’s cash value.

The longer you hold the policy, the more cash value the policy builds. If a need arises, and as long as premiums are paid, you could borrow against the available cash value* to help cover lost income, rent or mortgage payments, education costs, or other expenses.

*Policy loan interest rate is 8%. Loans may impact cash value and death benefit.

Whole life insurance is a type of insurance you can keep for your lifetime, compared to term life insurance, which ends after a set number of years. Whole life insurance lets you leave money behind for your family, no matter how long you live. Unlike term life, whole life insurance builds cash value over time. You can borrow from the cash value if money is needed for an emergency or if in the future you decide to terminate your policy you can receive the accumulated cash value.*

*Policy loan interest rate is 8%. Loans may impact cash value and death benefit.