- Whole Life Insurance -

How Does Whole Life Differ From Term Life?

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 remain the same throughout your lifetime.

Coverage to Benefit Varying Ages and Family Situations

Whole life coverage can be a beneficial option for an array of ages and family situations:

  • Members 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 members benefit because of tax-favored accumulation of cash value and life insurance coverage.

Accumulation of Cash Values

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.

Contact Us For More Information

For more information, contact the MEMBERS Financial Services Representative serving MED5 Federal Credit Union for a no cost, no obligation consultation.

 

Main Office: 625 Flormann St. Rapid City, SD 57701 | Open Monday-Friday 9:00 a.m. - 5:00 p.m. | (605) 342-7776

Designed and Hosted by The Gage Team. Med5 Federal Credit Union, previously known as Rapid City Medical Federal Credit Union, began serving only members of the medical profession, but has now expanded to serve anyone in the Rapid City community. Med5 has "Benefits that Fit You!"...Savings, Checking, Insurance, Loans and Investments...customized for your individual needs.