Skip to main content

Whole Life Insurance Cash Value Gives You More Financial Options

2 min read
Whole Life Insurance – Father and son watching sunset

When you think of life insurance, what probably comes to mind is financial protection for your family. In addition, did you know that whole life insurance policies include features that can help protect your financial life in other ways? One of them is cash value.

 

Whole Life insurance gives you more financial flexibility

Here’s how: Each time you make a premium payment after the initial policy years, the insurance company automatically puts aside a small portion, which grows over time. This is the policy’s accumulated cash value.

So how can you use the cash value in your policy? Here are a few typical ways:

  • Borrow against it. If you run into a temporary cash crunch or financial emergency, the cash value could serve as a source for a loan that you pay back with interest.*As long as you keep paying the premiums, you’ll have that safety net.
  • Temporarily use it to pay your premiums. Should you need ready cash to pay your premiums for a while, you could have your insurance company pay the premiums for you, by using some of your policy’s available cash value. It’s best to rebuild the cash value as soon as possible, however, to keep your policy’s coverage amount whole.
  • Let it accumulate until you need it. The longer that you don’t touch the cash value, the more time it has to grow until a day that you might really have a need to use it.
  • Turn in your policy and get it all. Down the road, should you decide to turn in your policy for whatever reason, you won’t come away empty-handed. You’ll receive the full cash value that has accumulated over time, less any outstanding debt against the policy. The sooner you buy a policy, the sooner that it can start building cash value – and the lower your monthly lifetime premium, because premiums are based on your age when your policy starts.

If you need yet another reason to get started today, consider this: 

Once you buy a  whole life insurance policy from Gerber Life, you’ll be covered for life as long as your premiums are paid. Your monthly premium will never increase, so you can feel confident knowing that you have financial protection at a price you choose to fit your budget.

You can apply for coverage ranging from $50,000 to $300,000, whether online or by phone.** The application process is simple, and a medical exam is not required for adults aged 18 to 50 and who apply for up to $100,000 of coverage. Coverage is dependent on answers to health questions. When you apply, you will need to answer several questions about your health, and your medical history may be taken into consideration.

We’re happy to answer any questions you may have and to match you with a custom policy that works best for your family’s needs – just give us a call at 1-800-425-7542 today.

 

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

** Higher coverage amounts available up to $1 million for those who qualify.

Was this article helpful?
58%
42%
View All Adult Life Insurance Articles

Swipe to see our products & get a free quote

Term Life
Term Icon

Term Life Insurance

Adults 18-70

Flexible coverage at a price that’s right for you.

Whole Life
Whole Icon

Whole Life Insurance

Adults 18-70

Keep it for life and build cash value.

Guaranteed Life
Guaranteed Icon

Guaranteed Life Insurance

Adults 50-80

Coverage for adults between 50 and 80 years old.

Accident Protection
Accident Icon

Accident Protection

Adults 18-69

Help protect loved ones without busting your budget.

Grow-Up
Grow-Up Icon

Grow-Up® Plan

Children 14 and under

Valuable protection that grows with your little one.

College Plan
College Icon

Gerber Life Insurance College Plan

Children 18 and under

Safe, secure and easy way to help pay for college.

Term Icon

Term Life Insurance

Get a free instant quote

Your quote

spinner sprite icon

Get a Free Quote

Have you used tobacco? *

* Indicates required field
** Currently not available in Delaware, District of Columbia, New York, or North Dakota

Still want to learn more, view our product page for more information.

Whole Icon

Whole Life Insurance

Get a free instant quote

Your quote

spinner sprite icon

Get a Free Quote

Have you used tobacco? *

* Indicates required field
** Currently not available in Delaware, District of Columbia, New York, or North Dakota

Still want to learn more, view our product page for more information.

Guaranteed Icon

Guaranteed Life Insurance

Get a free instant quote

Your quote

spinner sprite icon

Start here. It's easy!

Let us customize a Guaranteed Life Insurance quote just for you.

* Indicates required field

Still want to learn more, view our product page for more information.

Accident Icon

Accident Protection

Get a free instant quote

Your quote

spinner sprite icon

Get a Free Quote

Just enter the state you live in to get an instant quote.

* Indicates required field

Still want to learn more, view our product page for more information.

Grow-Up Icon

Grow-Up® Plan

Get a free instant quote

Your quote

spinner sprite icon

Get Your Free Quote Now

See how little it costs to help protect your child

* Indicates required field

Still want to learn more, view our product page for more information.

College Icon

Gerber Life Insurance College Plan

Get a free instant quote

Your quote

spinner sprite icon

Start here. It's easy!

Tell us about yourself, and we'll customize a plan just for you:

Child's Age *
Relationship to Child *
Your Age *

* Indicates required field

Still want to learn more, view our product page for more information.

We’d like to notify you about updates, videos, new products and more.

Notifications can be turned off at any time in your browser settings.