Regardless of your stage of life or health, Transamerica's whole life insurance products are here to help you. Whole life insurance can help protect the financial future of your family, as well as accumulate cash value you can access in case of an emergency.
In using the term “permanent,” it is important to note that insurance could lapse prior to the maturity for non-payment of premiums.
Whole life insurance provides permanent protection for life as long as premiums are paid. In addition to a guaranteed cash value you can access through a loan, your loved ones are guaranteed to receive a death benefit.
You should expect to pay a higher premium than you would for a term life policy, but your premiums remain the same throughout your lifetime.
Transamerica does not provide online quotes for whole life insurance. You will need to contact an agent to get some pricing options.
"69% of households would have trouble paying living expenses in two years or less if they were to lose their primary wage earner."
One of the features of whole life insurance is the tax-deferred cash value that builds up over time. The longer you have the policy and pay premiums, the more your cash value builds up. Your cash value may be accessed at any time as a loan.* This loan will need to be repaid in full to keep the full death benefit amount on your policy.
*Although the loan does not necessarily need to be repaid, the policy may go into grace and subsequently lapse due to excessive loan amounts.