Whole Life Insurance
What is Whole Life Insurance?
Ordinary Life or Whole Life insurance is permanent life insurance. As with all life insurance plans, the death benefit from this policy is transferred to the named beneficiaries upon the insured’s passing. However, Whole/Ordinary Life policies come with extra benefits. These policies accumulate a cash value that can be accessed during your lifetime.
This policy remains in force until the insured’s death once monthly premiums are up to date and once any indebtedness on the policy does not exceed the cash value. While the policy is in force, the policyholder may surrender and receive any accumulated cash value of the policy (less any indebtedness present at the time).
Which whole life insurance plan is right for you?
Ordinary Life Non Par Basic
Features:
• Accumulated Cash Values• Fixed premiums throughout the lifetime of the policy
• Fixed sum assured throughout the duration of the policy
Ordinary Life Non Par Enhanced
Features:
• Higher Accumulated Cash Values• Fixed premiums throughout the lifetime of the policy
• Sum assured increases at the 11th and 21st policy year anniversaries
