Whole Life Insurance is a type of permanent life insurance that provides a death benefits, cash value accumulation, and an opportunity to earn dividends.
Whole Life Insurance is often used as a way to save money in a secure and low risk environment, where dividends and guaranteed growth keep your money growing, but where it remains accessible for any reason.
Sometimes people shy away from Whole Life Insurance initially because they see the higher premium costs up front. But this is only until they understand that the higher premiums are purchasing “paid up insurance” and basically creating equity similar to how equity is created in a house.
Whole life insurance has been used as a key financial component by many notable people throughout American history. JC Penney, Walt Disney, Doris Christopher (Pampered Chief) and Ray Croc (McDonalds) to name a few.
This video is about how whole life insurance works, and how you can use whole life insurance in your own finances.