Build a financial foundation to help you support the people who depend on you.
Whole life insurance provides financial support for you and your loved ones by offering guaranteed level premiums and the assurance of cash value accumulation, as long as premiums are paid on time. This type of insurance can serve as a reliable source of financial support for future expenses, including college tuition and retirement income.
What is Whole Life Insurance?
Whole life insurance is a form of permanent life insurance designed to last your entire lifetime. As long as you continue to pay your premiums, your beneficiaries will receive a death benefit based on your coverage amount. Whole life insurance is considered one of the most conservative life insurance options, as it offers the most guarantees from the insurer—such as guaranteed level premiums, a guaranteed death benefit, and guaranteed cash value accumulation.
Your premium never goes up.
Your death benefit goes to the person or people you name as beneficiaries. It’s generally income-tax free.
Your policy builds a cash value that grows at a guaranteed rate as long as premiums are paid on time.
If you need money during your lifetime, you can use the available cash value.
If you cancel, you get back the available cash value.
How Does Whole Life Insurance Work?
A whole life insurance policy offers a fixed premium that never increases, determined by your desired coverage amount, age, health, and risk factors like smoking. One of its key benefits is cash value accumulation over time. Upon your passing, your beneficiaries receive a death benefit equal to your coverage amount, minus any outstanding loan balance on the policy.
How Much Whole Life Insurance Do I Need?
To estimate your coverage needs, consider these key questions:
1. Do your dependents rely on your income? How many years will they need financial support?
2. Does anyone require long-term care? How long will they depend on you?
3. Do you have children heading to college? What are the estimated costs?
4. Do you have a mortgage or other significant debts? Would you like to cover them?
💡 Since whole life insurance is more expensive than term insurance, you may want to combine both—using term insurance for short-term financial obligations and whole life insurance for long-term security.
What Types of Whole Life Insurance Does A.Neto Agency Offer?
Our most popular whole life insurance option is A.Neto EssentialLife® Simple Whole Life. This policy offers straightforward coverage with key benefits, including:
✔️ Simplified application process – A quick, electronic application with no required medical exam in many cases. Policy issuance depends on responses to application questions.
✔️ Flexible coverage options – Available for individuals aged 15 days to 80 years, with coverage lasting until age 121.
✔️ Customizable coverage amounts – Depending on age, policies start as low as $15,000 and go up to $250,000.6,7
With guaranteed level premiums and cash value accumulation, this policy provides long-term financial protection for you and your loved ones.
Key Differences Between Term and Whole Life Insurance
Term life insurance provides coverage for a specific period and does not accumulate cash value. In contrast, whole life insurance offers lifetime coverage and includes the benefit of cash value accumulation over time.
Term life insurance
_____________________
Whole life insurance
_____________________
Provides coverage at a fixed cost for a specific period—typically 10, 20, or 30 years—after which the cost increases with age.
Provides lifetime coverage.
Premiums stay the same during the initial level premium period. Generally, the shorter the period, the lower the cost of coverage. After this period ends, premiums increase.
Whole life insurance guarantees fixed premiums that remain the same for the entire duration of the policy.
Provides a death benefit but does not build cash value over time.
Accumulates cash value over time as long as premiums are paid, with the potential to access these funds during your lifetime.
Can be converted into a permanent policy, providing long-term coverage and benefits.
Cannot be converted into another type of life insurance policy.
Guaranteed Experience and Quality
Make an appointment now, our agents will call you and give you the best price on the market.
Trust those who have been in the insurance business for more than 20 years, with more than 5,000 satisfied customers.
We guarantee our services and are available at all times. If you prefer to call, click on the button below to call us directly!
What are some differences between universal life insurance and whole life?
Both universal life and whole life insurance are permanent policies, designed to last your entire lifetime as long as premiums are maintained. However, they differ in some key aspects:
Whole life insurance
_____________________
Universal life insurance
_____________________
Permanent — provides lifetime coverage.
Permanent — provides lifetime coverage.
Premiums are guaranteed level and won’t increase for the life of the policy.
Premiums are flexible. You can choose each month to pay the minimum or pay more. Payment above the cost of insurance builds as cash value.
Death benefit is guaranteed for the life of your policy. You choose your coverage amount when you buy your policy. You can surrender part of your policy if you no longer need all of it, as long as the remaining policy meets minimum requirements.
Death benefit is flexible. You can increase it, with underwriting approval, or reduce it, within policy limits. You can also choose whether the death benefit is a fixed amount or increases by the amount of your cash value.
Cash value builds at a guaranteed rate with each month's premium. Can be used during your lifetime. If you outlive your policy at age 121, you receive the cash value, minus any outstanding loans.
Cash value builds with payments above the cost of insurance and earns interest. Can be used to cover increasing cost of insurance with age. Can be used during your lifetime. You can choose whether the death benefit paid to your loved ones is level or includes the cash value.
What if my health makes it difficult to qualify for whole life insurance?
If your health makes it challenging to qualify for other types of life insurance, Farmers® Graded Benefit Whole Life offers a simplified underwriting process that may help you qualify. Here are some of its key features:
• Coverage from $5,000 to $30,000, with a guarantee to accumulate cash value.
• A guaranteed death benefit, with a limited payout if the policyholder passes away within the first two policy years.
• Guaranteed level premiums as long as the policy remains in force.
• Coverage is guaranteed for your lifetime — or the life of the policy — as long as premiums are paid according to the terms of the contract.
• No medical exam required — just three simple health questions to determine eligibility.
These features make Farmers Graded Benefit Whole Life a popular option for individuals in less-than-perfect health who want to ensure their end-of-life expenses don’t burden their loved ones. Unlike traditional “final expenses” or “burial” policies, this coverage isn’t tied to specific funeral expenses. There is no guarantee that the policy will cover the entire cost of your funeral. Instead, the death benefit is paid directly to your beneficiaries, allowing them to use the funds as they see fit. While they may use the proceeds to cover funeral expenses, they have the flexibility to direct the funds toward any financial need they prioritize.
