What Is a Whole Life Insurance Policy?

Introducing Evertree Mountain States

If people depend on you, you know how important it is to have a life insurance policy. But, which kind do you pick? Many choose a whole life policy because of the way it works. If you want to know more about whole life policies, call us at Evertree Mountain States in Arvada, CO for an appointment with an agent.

Whole Life

Whole life insurance is often called either ordinary life or straight life. It is a policy that covers the insured for as long as the premiums are paid, no matter how long that is. With term life, the policy has a set price that is guaranteed for the specific duration of the life insurance contract. However, whole life has no end unless you stop paying the premiums. It stays in force for the rest of the insured person’s life. 

The rate charged for this insurance is fixed based on the age you are when you first get the policy. Because of this, and because it stays the same even through old age, the premiums for this type of policy are more expensive than with term life insurance. In most whole life policies, the insured person pays the premiums for the rest of his life. However, there are some that are limited-pay insurance policies. With these, the insurance premiums only have to be paid for a set amount of time such as 20 years, and the insurance stays in place. 

Getting Life Insurance

If you know you need life insurance, there is no time to wait. Give us a call in our Arvada, CO office to get started. At Evertree Mountain States we can walk you through the various life insurance policies to help you find the one that will best work for you.

Start a Quote Here

Are you ready to save time, aggravation, and money? The team at Evertree Mountain States is here and ready to make the process as painless as possible. We look forward to meeting you!