Whole Life Insurance
Whole Life Insurance can be customized to meet your needs.
Many families, over generations, have relied on the financial security that Whole Life insurance provides. In addition to paying a death benefit, Whole Life also provides cash values that can be accessed as they accumulate in the policy, to fund vital needs such as a child's education or a new home. Whole Life can be customized to meet your needs and provide a foundation to help build your family's financial future.
Protection for life
Whole Life coverage gives you lifetime coverage with premiums that never increase, plus:
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Increasing cash value
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Access to policy loans
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Optional Child Protector coverage available
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Optional Spousal coverage available
Ask your representative about additional benefits that can enhance this plan, such as our Waiver of Premium, Guaranteed Purchase Option, and Accidental Death Benefit.
Share in dividends
Each year, your Whole Life policy allows you to share in dividends that may be declared by FaithLife Financial. You can use dividends earned in four ways:
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Purchase additional paid-up insurance
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Leave them within the policy to accumulate with interest
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Apply them toward annual or quarterly premium payments
Joint and last survivor option
Some assets, such as a vacation property, can be so heavily taxed when they're transferred to your beneficiaries, that valuable property or possessions may have to be sold to pay the taxes. Our Joint & Last Survivor Option provides a means to pay those taxes to ensure your beneficiaries receive their full inheritance. With the Joint & Last Survivor option:
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A single policy covers two individuals (must be a spousal relationship)
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Death benefit is paid at the second death
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Premium payments can stop after the first death, with the purchase of optional Waiver of Premium Death Benefit
How to use Whole Life Insurance
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Traditional insurance - financial security for families
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Retirement funding - with accumulated cash values
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Education funding - as named beneficiaries or values are built-up overa significant number of years
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Charitable giving - leave a gift for a charity
When you purchase an insurance policy, you become a FaithLife Financial member and are eligible to enjoy many unique member benefits. Contact your FaithLife Financial representative or our Head Office for more information.
