What Is the Purpose of a Whole Life Policy?

Whole life and term life policies serve two very different purposes. Individuals who want to buy insurance for a specific number of years will look into a term policy. Those who are looking for a way to secure their family’s future if something happens to them will want a whole life policy. The agents at Attain Insurance serve the residents of Fort Payne, AL and help them find the right type of life insurance to meet their individual goals. 

It Lasts Your Whole Life

Unlike a term life policy, a whole life policy is meant to remain in place until you pass away. The premiums are higher than a term policy because the end date for the policy is unknown. if you live for five years or fifty years, the policy will remain in place and continue to build equity and value.

Protects Your Family

A whole life policy is designed to secure your family’s financial future if you pass away and leave them without your income. Most whole life policies will pay out a large sum of money that is intended to provide for your family for two, three, or five years after your passing. Unlike a term policy, a whole life policy will pay out the full amount of the policy no matter how much you have paid into it. 

Residents who live in Fort Payne, AL and want to learn more about whole life insurance and how it can benefit their family can call the agents of Attain Insurance. They have the answers you are looking for and can help you determine just how much coverage you need to have in place. Call today!