If you need life insurance, there are different types of it that you can choose. One popular form of life insurance is the whole life policy. This type comes with specific benefits that you can’t get with other types of life insurance. If you’re interested in whole life, call us at Barry Insurance Group in Pearland, TX.
It’s Good for a Lifetime
One of the reasons that so many people choose whole life is that it literally lasts for your whole life. As long as you continue paying your monthly premium, you can keep this coverage to the end of your life. Some life insurance types are only good for a specific number of years. But with whole life, paying your premiums guarantees that you keep the coverage and that the insurance company can’t cancel the policy no matter how old you are.
The Cash Value
Perhaps the most common reason for people to choose this type of life insurance is that over time it builds a cash value. With this insurance, after you have been paying into it for a few years, you will have access to a portion of the death benefit if you need it. You can borrow against the amount of the cash value when you really need fast cash. This can help people out of a variety of financial problems over the course of their lifetimes. You can borrow the cash and pay it back later over time. If you were to borrow some of your cash value and then die without repaying it, your death benefit will still be paid to your beneficiaries, minus the amount that was borrowed.
Get Your Whole Life Policy
When you are ready for a whole life policy, give us a call to talk with an agent about it. Call us at Barry Insurance Group in Pearland, TX.