What is Whole Life Insurance?

Whole Life Insurance is a type of permanent life insurance that provides coverage for the entire lifetime of the insured person so long as the life insurance premiums are paid. Your policy builds cash value compounding annually each year without any tax consequence now or later.  It is a cornerstone of financial security.  You have complete liquidity for use at any time (unlike a 401K plan or other government sponsored retirement plan) yet many often use the cash value as a retirement stream of income as distributions are tax free when structured properly.