(972) 853-4120

[email protected]

Whole Life Insurance

Get industry-leading coverage that covers your whole life. Enjoy whole life insurance benefits to do more things you love with your loved ones. Protect them from unexpected financial challenges if primary income sources are lost.

Get cash value as you make payments. The typically tax-deferred amount grows irrespective of market fluctuations. This means more money in hand for significant life events and emergencies. Payments grow at fixed rates, and death benefits are certain. Rest assured, your family will receive a guaranteed payment when you are no longer here.

Watch Video

Top Benefits of Whole Life Insurance

Get Cash Value

Tap into the cash value of your whole life insurance policy when needed. Cover unexpected expenses, get retirement income, pay for college, and more.

Set Costs

Whole life insurance payments depend on factors such as age and health. However, monthly payments don’t increase once premiums are set, so you’ll have predictable costs throughout the policy.

Death Benefits

Beneficiaries get death benefits at your passing during the policy term. The lump sum payment covers debts, expenses, and other financial needs.

Lifetime Coverage

No need to worry about specific term lengths. Whole life insurance remains in force for your entire lifetime as long as premiums are paid. Get continuous and guaranteed financial protection for loved ones.

Retirement Funding

Use accumulated cash as a retirement fund. Unlike retirement savings accounts, whole life insurance payouts are tax-free. Get a reliable and guaranteed asset for your golden years.

Pay Fixed Premiums

Pay premiums on a regular schedule (monthly, quarterly, semiannually, or annually) as per your preference. The amount will be fixed throughout the life insurance policy’s lifetime.

How Whole Life Insurance Works

Whole life insurance quotes and packages are based on specific factors like age, medical history, and coverage needs. At Doyle Assurance Group, we use this information to recommend insurance carriers and packages for informed decisions. This includes A+-rated carriers with flexible payment options.

Some of the premiums are invested and grow in cash value with time. At the end of the plan, it’s paid out to your beneficiary. You can reduce tax liability by naming an irrevocable life insurance trust as a beneficiary. You can also add multiple beneficiaries to your whole life insurance policy.

Why Choose Doyle Assurance Group?

Comprehensive Coverage

At Doyle Assurance Group, we understand the importance of long-term security and financial stability. By picking the best insurance carriers for your needs, you can get comprehensive coverage that lasts a lifetime.

This means your loved ones are protected no matter when you pass away. With our plans, you don’t have to worry about selecting a specific term length; your coverage remains in place as long as you maintain your premiums.

Simplified Quotes and Portability

Getting whole life insurance quotes from us is easy and straightforward. Understand your options quickly and make informed decisions. Get a portable plan so you can retain coverage as your life evolves.

FAQs

What is whole life insurance?
Whole life insurance offers lifetime coverage with a guaranteed death benefit, irrespective of lifestyle. This policy allows policyholder to access accumulated cash value. Premiums are fixed and remain constant throughout the policy duration.
What is the difference between whole and term life insurance?
Term life insurance provides coverage for a set period, such as 10, 15, 20, or 30 years, with level premiums during the term. On the other hand, whole life insurance offers permanent coverage with set, unchanging premiums. It accumulates cash value that can be accessed while you’re alive and guarantees a death benefit.
Who needs whole life insurance?
Whole life insurance is best for those who want lifetime coverage and who are comfortable with higher premiums. It’s ideal for people who want the added benefit of cash value growth and use the policy as a financial planning tool. It’s also useful for those who want stable premiums, plan to leave a financial legacy or need long-term coverage.
What is the cash value account?
A portion of each premium payment accumulates in a tax-deferred cash value account. You can borrow against or withdraw from this cash value. However, please note that doing so may reduce the policy’s death benefit and overall value.
How flexible are whole life insurance premiums?
Whole life insurance premiums are usually fixed, which helps with consistent financial planning. However, it is less flexible compared to other types of insurance.
Do I have complete access to my policy’s cash value?
Yes, you can access the cash value of your policy through loans or withdrawals. However, it often takes several years for the cash value to accumulate significantly. Carefully manage withdrawals or loans, as they can impact both the policy’s value and the death benefit.
Do whole life insurance policies pay dividends?
Participating policies may pay dividends depending on your financial performance. You can use these to increase the policy’s value or offset premiums, but they are not guaranteed.
What happens if I stop paying premiums?
If you stop paying premiums, your policy may lapse, resulting in coverage loss. However, you can use the accumulated cash value of some policies to keep the coverage active for a while or change it to a reduced paid-up policy.
How should I determine the coverage amount for whole life insurance?
Determine your long-term financial responsibilities, including any debts and future expenses. Think about your dependents’ financial needs and the coverage that can meet them in the future. Also, consider your estate planning goals and how the policy fits into your overall financial strategy.
How do I determine the right amount of coverage?
To choose the right coverage amount, consider your financial responsibilities and future goals. Think about how much you need to replace your income, pay off debts, fund your children’s education, and cover other future expenses. Most people choose a death benefit that is five to 10 times their yearly income. A financial advisor can help you make an informed decision.