Whole Life Insurance

In most cases, the stated value of a whole life policy will be disbursed to beneficiaries as long there are no outstanding policy loans although there is a chance that certain riders will potentially increase the death benefit amount. The disbursed amount of a whole life policy will generally be tax-free unless an unusual case exists. This includes any cash value that has accumulated throughout the duration of the policy. While this is true for income taxes, the same may not be true for estate taxes unless special irrevocable trusts have been put in place.

If you are looking for a permanent life insurance policy that provides a cash value, whole life insurance will likely meet your needs. Not only will this ensures that costs associated with your death are covered, your beneficiaries will have the income needed to maintain their lifestyle long disbursements have been made. At Anchor Financial Group, we know the legacy and support you leave behind is important. For this reason, we work hard to ensure that your life insurance goals are met completely.