Unlike term insurance, whole life offers coverage for your entire life. And it accumulates cash value, which is accessible in the form of loans or withdrawals. So whole life can represent a future source of money as well as protection. The premiums are guaranteed to remain the same throughout your lifetime.
Whole life coverage can be a beneficial option for an array of ages and family situations:
- Customers of all ages may be eligible to apply (depending on the product offered).
- Children and grandchildren benefit because the policy provides for a low premium at a young age, and the premium remains level.
- Young families with limited premium dollars benefit because it provides a simple insurance plan offering financial security and cash values.
- More mature customers benefit because of tax-favored accumulation of cash value and life insurance coverage.
- Premiums are paid over your lifetime, or a shorter period, depending on the product offered.
Cash values accumulate at a fixed rate. The cash value can be used to purchase extended term insurance, or to purchase paid-up insurance, or the policy can be surrendered for its cash value.
For more information, contact the MEMBERS Financial Services Representative serving CUNA Mutual Group for a no cost, no obligation consultation.
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Representatives are registered, securities are sold, and investment advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor, 2000 Heritage Way, Waverly, Iowa 50677, toll-free (800) 369-2862. Nondeposit investment and insurance products are not federally insured, involve investment risk, may lose value and are not obligations of or guaranteed by the financial institution. CBSI is under contract with the financial institution, through the financial services program, to make securities available to members. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America. The Representative may also be a credit union employee that accepts deposits on behalf of the financial institution.
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©1997-2012 CUNA Mutual Group.
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