Whole Life Insurance Cash Value Gives You More Financial Options

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 protect your financial life in other ways? One of them is cash value.


Whole Life insurance gives you more financial flexibility

Here’s how: After you buy a Whole Life insurance policy and each time you make a premium payment, 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.


  • Supplement your retirement income. As you get older, you may face unexpected expenses that exceed your fixed income. To supplement your income, you could make withdrawals from the cash value of your policy. However, keep in mind that the money you don’t pay back will be deducted from the death benefit (your policy’s coverage amount) that your beneficiary will receive.


  • 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%.

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

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