Whole Life Insurance Cash Value Gives You More Financial Options

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 Family Plan 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 $1,000,000, whether online or by phone. The application process is simple, and a medical exam is not required in most cases.** 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.And with our Family Plan you can get Whole Life coverage for yourself with the option to include some coverage for your spouse and/or children, all on one policy.

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.

** A medical exam is required if you are over age 55 and applying for more than $100,000 in coverage.