Whole Life Insurance

When you need a flexible, tax-friendly way to protect what matters most, participating life insurance may be exactly what you’re looking for. It not only provides lifelong protection, but it’s another way to grow your wealth through tax advantages and potential dividends.

Benefits of participating life insurance

✔️ First and foremost, it’s life insurance- When you die, your family, business, or a charity receives a payout (also called a death benefit).
✔️ Yours for life- Whatever amount of participating life insurance you buy is guaranteed for your lifetime, and premium payments for your guaranteed coverage won’t go up, no matter your age.
✔️ Grow your wealth-Over time, your life insurance policy builds cash value. You have guaranteed access to these funds, which you can use while you’re alive to cover emergency needs or fund a child’s education, to list two examples.
✔️ Potential Dividends- When you buy participating life insurance, you share in the experience of the participating account with everyone else who owns a participating policy. Each year, you may receive what’s called a policy owner dividend. Dividends aren’t guaranteed, but once they’re credited to your policy, they’re yours.

How It Works?

Your premium payments, together with payments from all other participating policyowners, go into the participating account. Insurance company manage this account to meet the guarantees and commitments to all the participating life insurance policy owners, now and in the future.

If actual performance is better than insurance companie’s assumptions, earnings arise in the participating account. Assumptions may include investments, expenses and taxes, policyowner withdrawals and loans and insurance payouts.

When earnings exceed what the insurance company need to meet guarantees and commitments, policy owners may share (or participate)in these earnings. Insurance company will distribute some of these earnings as policy owner dividends, although this isn’t guaranteed.

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