Tax-free death benefits. Under current law governing individual life insurance, your beneficiary pays no income tax on life insurance proceeds. As with all tax matters, be sure to consult with your personal tax adviser to see how this may affect your personal situation. Whole Life has features that help provide you with permanent paidup solutions to your life insurance needs. Protection is permanent.
Premiums stay the same.
Cash values are established and increase faster when dividends are used to purchase additional insurance. Because the likelihood of developing a disability increases with age, you simply can't afford not to be protected. Sure, your employer sick-leave plan provides some security, but it isn't enough. Nor can you rely on state pension funds. Some require permanent disability before benefits can be paid, and complex formulas and requirements can leave you under-protected.