Advertisement:
You know you need life insurance, but how much and what kind? Get personalized answers from Nelsonomics creator Danny Nelson with a Life Insurance Blueprint.
Placeholder Lesson:
** This lesson is generated with AI assistance and approved by Danny Nelson. This lesson will communicate the essence of the topic for now until Danny can create a full lesson. **
Whole life insurance is a type of permanent life insurance that provides coverage for your entire lifetime as long as premiums are paid.
It includes both a guaranteed death benefit and a cash value component that grows over time.
Premiums are typically level, meaning they stay the same every year.
The cash value grows at a guaranteed rate set by the insurer.
Whole life insurance is often used for long-term financial planning because of its stability and guarantees.