If so, you may want to understand how it works and how rates compare with term insurance.
Whole life insurance is a type of life insurance that provides lifetime protection as long as you pay your premiums.
In addition, whole life policies may build up cash value inside the plan over time, from which you may be able to take out a loan.
However, compared with term life insurance, whole life costs a lot more money since term life insurance is temporary and does not build cash value.
But, if you are looking for lifetime coverage to provide for your final expenses whole life may be the plan for you.
Life insurance rates increase with your age since they are based on how long you are expected to live. That's why it makes sense to buy life insurance while you are young and can lock-in a lower rate for your life insurance policy.
Whole life insurance rates remain the same throughout the life of your life insurance, so the younger you are when you buy a policy, the lower your rate.
Here's how you can get more whole life insurance rate information and compare your free whole life insurance quotes today.