Whole Life (Permanent Life) insurance provides a lifetime of protection with premiums typically remaining level throughout the life of the policy. Some Whole Life policies allow premium payments for a shorter period, such as 20 years, with lifetime protection. Whole Life policies generate cash values, which, subject to the terms of the policy purchased, may be borrowed by the policyowner. If the policy is surrendered, the accumulated cash value is payable to the policyowner. 

Additionally, some Whole Life policies (Participating Plans) will return dividends to policyowners based on the performance of the company. These dividends may be withdrawn in cash, left on deposit to accumulate with interest or used to purchase additional insurance regardless of the policyowner’s health.