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:
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