Whole Life

Whole Life Insurace

Whole Life Insurance

Whole life insurance offers a unique combination of guaranteed death benefit protection, guaranteed cash value accumulation, and guaranteed level premiums over a lifetime. Plus, generally available tax advantages that provide an effective and powerful financial resource, such as:

Income tax-free death benefit to a beneficiary
Tax deferred cash value growth
Tax favored policy loans and withdrawals from cash value
Features and Options
Guaranteed, Single Premium or Fixed Level Premiums
Premiums are guaranteed not to increase even as you grow older or your health declines. The premium you pay today will be the same premium you pay in later years.
Guaranteed, Lifetime Coverage
When you purchase a whole life policy, you are helping to ensure insurance protection for your entire life. As long as premiums are paid and policy loans do not exceed the total cash value, your coverage cannot be terminated, even if you become uninsurable later in life.
Guaranteed, Tax-Deferred Cash Value Accumulation

Your policy is designed to gradually build cash value each year on a tax deferred basis. During your lifetime, the cash value can be accessed as a policy loan to help fund a major purchase, supplement your retirement income, or simply in times of emergency or a special need. Accessing your cash value will, however, reduce your death benefit.

Policy Dividends

Your policy may earn a dividend that can be used in the following ways:
Paid-Up Additions
This option allows you to increase insurance coverage by purchasing additional “paid-up” insurance.
Out of Pocket Premium Reduction
This option allows you to use any dividend to reduce your out of pocket premium.
Dividend Accumulation
This option allows you to leave any dividend you earn with Lafayette Life to earn interest.

Cash

This option allows you to receive a check in the amount of any declared dividend.

Tailored Policy to Meet Your Needs Everyone is different and therefore has different needs. That’s why Life insurance has created several supplemental riders that can be added to your policy to help meet those needs. Adding a rider to your policy may require additional premium.