WHOLE LIFE INSURANCE QUOTE

Lifelong Protection That Builds Cash Value

Secure your family's future with permanent coverage and guaranteed growth.

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Whole Life Insurance

What Is a Whole Life Insurance Policy?

A whole life insurance policy is permanent life insurance that provides lifetime coverage and builds cash value at a guaranteed rate. Premiums remain level, and the policy includes valuable financial features that grow over time. Key benefits include:

Lifelong Protection

Permanent coverage with a guaranteed death benefit that financially protects your loved ones as long as premiums are paid

Guaranteed Cash Value

Accumulates guaranteed cash value over time, providing a stable foundation for future financial flexibility

Fixed Premiums

Premium payments that stay the same for the life of the policy, providing predictability and stability in your long-term financial planning

Potential Dividends

Eligible to receive dividends (not guaranteed), which can be used to reduce premiums, increase cash value, or purchase additional coverage¹

Access To Cash

Option for policy loans or withdrawals from cash value (these should only be taken in emergency situations if needed)²

Tax Advantages

Cash value may grow tax-deferred; policy loans are generally income-tax-free²

Compare Whole Life Insurance Plans

Different types of whole life insurance policies offer varying benefits and features to match your specific needs and budget. Understanding these options helps you choose the policy that provides the right balance of death benefit protection, cash value growth, and premium affordability.

	Guaranteed Issue Whole Life	Simplified Issue Whole Life	Dividend-Paying Whole Life
Primary Goal	No-health-questions coverage	Easy coverage, less hassle	Lifetime value + dividends
Underwriting	None (guaranteed acceptance)	Simplified (few questions)	Full (exam + questions)
Coverage & Premiums	Fixed premiums; lower amounts	Fixed premiums; moderate amounts	Fixed premiums; higher amounts
Cash Value	Guaranteed growth only (slowest)	Guaranteed growth only	Guaranteed growth + potential dividends*
Loans & Withdrawals	Yes – minimal access	Yes – limited access	Yes – via policy loans
Common Uses	Final expenses, no health exam	Quick protection, budget fit	Legacy planning, long-term growth

* Dividends not guaranteed

Husband and wife bonding with their baby at home

How a Whole Life Insurance Policy Works

A whole life insurance policy provides lifelong coverage and builds guaranteed cash value over time. Your premiums are fixed, your cash value grows at a set rate, and if your policy is eligible, you may also receive dividends.

Pay Premiums: You make regular fixed payments based on your coverage amount. Part of your premium covers the cost of insurance, and the rest contributes to your cash value.
Policy Costs Are Covered: The insurer automatically uses a portion of your premium to cover the cost of insurance and any administrative expenses.
Cash Value Grows: The remaining premium funds your cash value, which grows at a guaranteed rate over time. If your policy is eligible, it may also earn non-guaranteed dividends, which can be used to increase cash value, reduce premiums, or buy more coverage.
Guaranteed Death Benefit: When the insured passes away, the policy pays a guaranteed death benefit to beneficiaries (reduced by any outstanding loans or withdrawals).

Want a deeper dive? Read our full guide: What is Whole Life Insurance?

Why Choose Western & Southern?

Financial Strength

High ratings reflect stability you can count on

Trusted for Over 135 Years

Helping families protect their future since 1888

Serving Millions Nationwide

Trusted by families across the 50 states

Is Whole Life Insurance Right for You?

Whole life insurance offers lifelong protection, guaranteed cash value growth, and fixed premiums – making it a strong fit for those who value long-term security, predictability, and the potential for dividends. Below are some individuals who might benefit from whole life insurance:

Young man working on his household budget

Security Seekers

People who want guaranteed lifelong coverage, predictable payments, and steady cash value growth, without having to adjust their policy over time.

Grandmother protecting her grandchild with IUL

Legacy Builders

Individuals who want to leave a meaningful financial gift to children, grandchildren, or charitable organizations, with confidence in a guaranteed death benefit.

Business Owners

Those seeking stable protection for buy-sell agreements, key person coverage, or to build business-accessible cash value.

Parents reviewing insurance policy with daughter

Parents & Guardians

Adults who want to lock in insurability and build a long-term financial foundation for a child or grandchild.

Final Expense Planners

Seniors or others who want to ensure loved ones aren’t burdened by funeral or end-of-life costs, especially through simplified or guaranteed issue whole life policies.

It’s important to remember that whole life insurance is a long-term commitment. Premiums are fixed, and early surrender may result in reduced cash value. Still, for those who value guarantees and long-term protection, it can be a powerful financial tool.

Not sure if WL is right for you? Compare all types of Life Insurance.

Frequently Asked Questions About Whole Life Insurance

Whole life insurance rates are higher than term rates because coverage lasts your entire lifetime and builds cash value. Term life insurance is more affordable upfront but expires after a set number of years. Choosing between them depends on your budget and whether you want lifelong coverage or temporary protection.

Your quote is based on age, health, coverage amount, and any riders you add. Whole life policies also reflect their built-in guarantees: fixed premiums, guaranteed cash value growth, and a guaranteed death benefit. To get the most accurate quote, provide complete health and financial details.

Yes. You can compare policies by looking at coverage amounts, premium guarantees, cash value growth rates, and available riders. Be sure to evaluate long-term benefits, not just the first premium, to understand the full value of a whole life insurance policy.

Whole life offers three key guarantees: fixed premiums that never increase, guaranteed cash value growth, and a guaranteed death benefit. These features make whole life one of the most predictable and stable life insurance options.

Yes. A portion of your premium builds guaranteed cash value that grows tax-deferred over time. You can borrow or withdraw against this cash value if needed, though doing so reduces the policy’s death benefit and long-term growth.

You can access your cash value through policy loans or withdrawals. Loans are generally tax-advantaged, but unpaid balances will reduce both cash value and death benefit. Withdrawals may also have tax implications. Your policy illustration will outline how these features work.

When the insured passes away, the policy pays a guaranteed, tax-free death benefit to your beneficiaries. This benefit is typically paid in a lump sum and can be used for funeral expenses, debt repayment, or ongoing family support.

Many term life policies include a conversion option that lets you switch to whole life without new medical underwriting. This can help you lock in permanent coverage at your current health rating before your term expires.

IMPORTANT DISCLOSURES

¹ Dividends are not guaranteed and may change at any time. Interest is charged on loans, they may generate an income tax liability, reduce the Account Value and the Death Benefit, and may cause the policy to lapse. Withdrawals may be subject to charges, withdrawals of taxable amounts are subject to ordinary income tax, and, if taken before age 59½, may be subject to a 10% IRS penalty.

² Withdrawing or taking a loan from your policy may reduce its cash value, death benefit, and have tax implications.

These policies and benefits may not be available in all states, and benefits may vary by state.

Payment of benefits under the life insurance policy is the obligation of, and is guaranteed by, the issuing company. Guarantees are based on the claims-paying ability of the issuer. Products are backed by the full financial strength of the issuing company.

Life insurance policies contain certain exclusions, limitations, reductions of benefits and terms for keeping them in force. Please contact a financial representative for complete details.

Life insurance products are not bank products, are not a deposit, are not insured by the FDIC, nor any other federal entity, have no bank guarantee, and may lose value.

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