Whole life insurance is a type of permanent life insurance that provides coverage for the entire life of the policyholder, regardless of age or health status. It offers a combination of life insurance protection and cash value savings.

* Permanent Coverage: Provides lifelong coverage without the risk of cancellation or reduction.

* Cash Value Accumulation: A portion of the premiums paid into the policy is allocated to a cash value account, which grows over time.

* Death Benefit: Upon the policyholder's death, the death benefit is paid to the designated beneficiaries.

* Policy Loans: Policyholders can borrow against the cash value, which can provide a source of liquidity.

* Tax Advantages: The cash value component grows tax-deferred, and loans against the cash value are generally tax-free.

* Lifelong Protection: Provides peace of mind knowing that loved ones will be financially protected in the event of the policyholder's death.

* Cash Value Savings: The cash value component can be used for various financial goals, such as retirement planning, education funding, or emergency expenses.

* Supplemental Income: Loans against the cash value can provide an additional source of income during retirement or unexpected events.