Life Insurance
Whole Life Insurance
Whole life insurance offers a unique combination of guaranteed1 death benefit protection, guaranteed cash value accumulation, and guaranteed level premiums over a lifetime. Plus, generally available tax advantages that could provide an effective and powerful financial resource, such as an income tax-free death benefit to a beneficiary, tax deferred cash value growth and tax favored policy loans and withdrawals from cash value.
- Heritage Whole Life Insurance
- Contender Whole Life Insurance
- Patriot Whole Life Insurance
- Sentinel Whole Life Insurance
- 10 Pay Life Whole Life Insurance
- Liberty Single Premium Whole Life Insurance
- Protector 2022 Simplified Issue Whole Life Insurance
Call us at 480.275.6393
Benefits of Whole Life Insurance
Guaranteed Fixed Level Premiums
Premiums are guaranteed not to increase even as you grow older or your health declines. The premium you pay today will be the same premium you pay in later years.
Guaranteed Lifetime Coverage
When you purchase a whole life policy, you are helping to ensure insurance protection for your entire life. As long as premiums are paid and policy loans do not exceed the total cash value, your coverage cannot be terminated, even if you become uninsurable later in life.3
Tax-Deferred Cash Value Accumulation
Your policy is designed to gradually build cash value each year on a tax deferred basis. During your lifetime, the cash value can be accessed as a policy loan. Accessing your cash value will, however, reduce your death benefit.
Policy Dividends
Your policy, excluding Heritage 2022 and Protector 2022, may earn a dividend4 that can be used to purchase additional paid-up insurance, reduce out of pocket premium, accumulate in your policy or receive in cash.
Choose a Whole Life Insurance Policy That Works For You
Everyone is different and therefore has different needs. That’s why Lafayette Life has several supplemental riders that can be added to your policy to help meet those needs. Adding a rider may require additional premium. There are seven different whole life policies, each with different benefits.
Term Life Insurance
Term life insurance from Lafayette Life provides coverage for a specific period of time. It is pure life insurance that does not increase in value. If you die within the designated time frame, your beneficiaries will receive the death benefit amount. Generally, the younger you are, the lower the premium — or price — you pay for term insurance. Some term products offer flexible features such as convertibility to a permanent product and return of premium – these are a good choice when you cannot predict your future needs.
Convertibility
Convertibility means when you decide that you need a more permanent form of insurance, your policy can be converted into a permanent life product without new evidence of insurability. Keep in mind that Increases in coverage are subject to new underwriting.
Benefits of Continental Term Series of Life Insurance
Our term life insurance product can be an ideal solution for a variety of business and personal challenges that could arise from an unexpected death. Here are just a few.
- Protection for a Mortgage, Car Loan or Other Personal Debt
- Maintain Your Family's Standard of Living
- Provide for Your Children’s Education Expenses
- Cover a Business Loan
- Fund a Buy-Sell Agreement for Your Business
- Financial Protection for Your Business From Loss of a Key Employee
- Pay for Final Expenses
- Cover Final Medical Bills