What Does A Whole Life Insurance Policy Offer? 
There are benefits to owning a whole life insurance policy . 1 -RRB- Premiums never go up . They stay the same for the life of the policy 2 -RRB- They accumulate a cash value . As you continue to pay premiums your cash value increases 3 -RRB- You can borrow against the cash value . Its like borrowing money from yourself . You get no payment book or notices for repayment . You pay it back when you want to , if you want to . 4 -RRB- Level death benefit - will pay the face amount of the policy upon your death 5 -RRB- Some allow you to add additional riders - these can enhance the provisions of your policy . 6 -RRB- Can be used as collateral - with a sufficient cash value you can actually use that value as collateral for a loan outside of the one your insurance company can provide . It will depend on the circumstances . Whole life insurance can be a great tool to protect your family from unexpected expenses . 