Whole Life Insurance for Lifetime Coverage
Permanent Protection with Cash Value
Whole life insurance provides guaranteed lifetime coverage with level premiums and a
cash value that grows over time. The Mitchell Agency helps families plan for final expenses, legacy goals, and long-term stability with clear, patient guidance.
How Whole Life Works
As long as premiums are paid, coverage does not expire and the death benefit is guaranteed. Policies may build cash value on a tax-deferred basis and some participating contracts can pay dividends that increase value or offset premiums.
When Whole Life Makes Sense
Consider whole life for lifelong needs-final expenses,
estate planning, or leaving a gift to family or charity. Parents and grandparents also use it to lock in insurability for children and create future flexibility through
policy loans.
Universal Life & Flexible Alternatives
If you want permanent coverage with adjustable premiums and death benefit, universal life offers flexibility within policy guidelines. We'll compare whole life and UL side by side so you can decide what fits your budget and goals.
Answers to Common Permanent Life Questions
Is whole life more expensive than term?
Yes, because it lasts a lifetime and includes cash value. The trade-off is stability, guarantees, and long-term utility within a financial plan.
Can I borrow from my policy?
Many policies allow loans against cash value; unpaid loans reduce the death benefit. We'll explain mechanics and best practices.
Do whole life policies pay dividends?
Some do, but dividends aren't guaranteed. When paid, they can buy paid-up additions, increase cash value, or help reduce premiums.
What is universal life?
A flexible type of permanent insurance with adjustable premiums and benefits. It can be structured for lifetime coverage or to emphasize cash accumulation.
