Whole Life Policies

Limited-Pay Options: Some Whole Life policies allow premiums to be fully paid in a shorter period (e.g., 10 or 20 years) or with a single lump sum payment, after which the policy remains in force for life. Limited-pay options are subject to policy terms and conditions.
 

Cheaper Option: Fully underwritten policies often offer lower premiums per thousand of coverage compared to Simplified Issue policies for applicants who can medically qualify.
 

Medical Exam Required: Requires a full health evaluation, especially for higher coverage amounts but can offer lower premiums and high coverage amounts.
 

Accelerated Underwriting Available: Some insurers may offer accelerated underwriting options for medically eligible applicants, availability is limited by coverage amount and age.
 

Highest Benefit Ceiling: Full Underwriting coverage often allows for higher face amounts—commonly ranging from tens of thousands to several million dollars, depending on the insurer.
 

Lifelong Coverage: Provides stable protection into old age with guaranteed policy elements.
 

Guaranteed Death Benefit: Permanent protection with guaranteed death benefits that never change. 
 

Guaranteed Premiums: Fixed premiums for life, locked in from the date of issue and never increase. The policy remains active as long as payments are made.
 

Guaranteed Cash Value: Accumulates over time and can be accessed while living in the form of policy loans or withdrawals. Outstanding loans and interest reduce the policy’s death benefit and cash value. 
 

Non-Cancellable: Cannot be canceled because of changes to your age or health as long as premiums are maintained