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Whole Life Insurance Coverage for Your Lifetime

Request a whole life insurance quote to help insure those you love.

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What Is a Whole Life Insurance Policy?

Whole life insurance is a type of permanent life insurance that's designed to last your whole life, rather than a specific term. As long as you make your premium payments on time, your policy will not expire. The premiums also remain the same throughout your life regardless of your age, health or lifestyle changes. It also builds cash value over time and may pay dividends1.
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How Does Whole Life Insurance Work?

When you purchase a whole life insurance policy, you will pay a premium, typically on a monthly or annual basis, to the insurance company. A portion of the premium will go towards the death benefit, which is the amount that will be paid out to your beneficiaries in the event of your death. The remainder of the premium will go towards the cash value component of the policy.

Benefits of Whole Life Insurance

Lifetime Coverage

A key potential benefit of whole life insurance is that it has no expiration date. As long as you keep paying your premiums, your coverage will continue for your entire lifetime.

Fixed Premiums

Your whole life premium stays the same for the rest of your life so you don't have to worry about it increasing with age.

Cash Value

Some whole life policies build cash value, money you can withdraw or borrow from the policy while you're alive.

Living Benefits

Receive an early payout of policy death benefits if you're injured or have an illness with living benefits. This payment is made to the policy owner rather than to the beneficiary.

Estate Planning

Whole life insurance policies can be useful for estate planning purposes, as the death benefit can be used to provide liquidity for estate taxes or to transfer wealth to heirs.

Tax Advantages

The cash value component of a whole life insurance policy grows on a tax-deferred basis, meaning you won't pay taxes on the growth until you withdraw the money. Additionally, the death benefit is generally tax-free to your beneficiaries.

Types of Whole Life Insurance Policies

There are a few different types of whole life insurance based on how you pay for the policy:

Dividend Paying Whole Life Insurance

This is the standard type of whole life insurance policy. After you sign up, the amount you owe per year (the premium) stays the same for your entire life.

Non-Dividend Paying Whole Life Insurance

With limited payment whole life insurance, you only owe premiums for a set amount of time.

Single Premium Whole Life Insurance2

With a single premium whole life insurance policy, you only make one lump sum payment for your coverage.

Simplified Issue Whole Life Insurance

This is a permanent life insurance policy that does not require a medical exam or blood test. Just answer a few health questions.
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How Much Does Whole Life Insurance Cost?

The cost depends on several factors, including:

  1. Your age
  2. If you have any pre-existing medical issues or other health issues
  3. The size of the death benefit
  4. The number of premiums payments you plan on making

Since these factors change on a case-by-case basis, the only way to know for sure how much a policy will cost for you is by meeting with a financial representative. After you formally apply and go through medical underwriting, we will give you the official cost and then you can decide whether to purchase a policy.

Get Your Whole Life Insurance Quote Today

We're here to help make this process a little easier with financial professionals ready to assist you on your life insurance journey.
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 How Much Life Insurance Do You Need?

Answer a few questions about your life situation to estimate how much coverage you might need.

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Could Whole Life Insurance Be Right For You?

Whole life insurance is a sound choice for anyone seeking long-term protection for their family, guaranteed savings, and on-demand liquidity. Young adults, individuals in mid-career, and those readying for retirement have all found reasons to pursue whole life insurance.

Western & Southern’s whole life insurance policies can be tailored to fit your specific needs. You have the option to include supplemental add-ons, or riders, that provide you with additional protection.

Learn More About Whole Life Insurance

Why Choose Western & Southern?

When you’re looking for whole life insurance protection, Western & Southern has a history of providing life insurance to people just like you. Our financial ratings make us one of the strongest life insurance groups, offering you the financial stability you can count on. We have knowledgeable financial representatives available to help you with your insurance needs.

Financial Strength

established 1888

Longevity & Stability

96 comdex ranking

Financial Ratings

IMPORTANT DISCLOSURES

1 Dividends are not guaranteed and may change at any time.

2 The policy may be issued as a Modified Endowment Contract (MEC) for tax purposes. Any withdrawals or surrenders could result in a taxable event. Distributions are taxable to the extent that there is gain in the contract. A 10% penalty applies for distributions prior to age 59 ½ with certain exceptions. In order for policies funded by an exchange to be issued as a non-MEC, the entire single premium must be in the form of a 1035 Exchange and the existing policy must not be a MEC. 

Single Premium Whole Life Insurance Policy or Single Premium Universal Life in some states series ICC19 1901-3030 WSA issued by Western-Southern Life Assurance Company, Cincinnati, Ohio, which operates in DC and all states except NY.

Whole Life Insurance Policy Series ICC21 2103-110, ICC21 2102-322, ICC21 2102-322, & ICC21 2107-327 issued by The Western and Southern Life Insurance Company, Cincinnati, Ohio,  which operates in DC and all states except AK, ME, MA, and NY.

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.