Most insurance is pretty straight forward. However, Whole life insurance offers more benefits than just paying in the event of the insured’s death. Whole life policies can build value through the years and that value can be tapped into for a variety of reasons.

Some young families will purchase a whole life policy for a child and use the value to help pay for college. Others will tap into the value of a whole life policy to help finance the down payment on a house or to take advantage of a business opportunity. It is a financial asset that can come in very handy in an emergency.

The cash value of a policy is also versatile in the fact that it can still provide coverage even if you have tapped into its value. Policy loans are available at attractive rates that allow you to borrow against it. If death would occur while the loan is still unpaid, the loan amount would be deducted from the proceeds.

Whole life insurance is a good choice for those who may have difficulty saving money. It provides valuable life insurance protection while having an element of “forced savings”.

If you live in the Rochester, MN area and are interested in learning more about the versatility of whole life insurance, contact us at Safechoice Insurance Agency. We are an independent insurance agency with access to multiple insurance providers. This gives us the opportunity to shop around for the best coverage at an excellent price. You can compare homeowners and auto insurance rates right online. Visit our website and answer a few questions to get your quote.

For life insurance questions and quotes contact us. Remember, one of the major factors in life insurance pricing is age, so it may never be cheaper. Contact Safechoice Insurance Agency.

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