Whole Life is the traditional form of permanent life insurance. It provides...

• the certainty of level premiums;
• a guaranteed interest rate; and
• a guaranteed death benefit.

An ideal product for the young and the old, Whole Life provides the extra security of guaranteed protection at affordable rates, yet it maintains the element of cash value accumulation for pre- and post-retirement needs.

Current forms of Whole Life insurance enable policyowners to benefit from favorable experience and a strong economy by crediting excess interest to the policy. These "interest-sensitive" Whole Life policies are popular with individuals who value strong underlying guarantees but don't want to miss out on the opportunity for increased cash-value performance.

Like all forms of permanent life insurance, Whole Life may be converted into retirement income. When you reach retirement, you can use loans and withdrawals from the policy's cash value to purchase an annuity that can provide additional funds for your retirement needs*.

* Proceeds from a life insurance policy paid because of the death of the insured are generally excludable from the beneficiary's gross income for income tax purposes.
Income and growth on accumulated cash values is generally taxable only upon withdrawal.
Adverse tax consequences may result if withdrawals exceed premiums paid into the policy.
Policy loans from life insurance policies generally are not subject to income tax, provided the contract is not a Modified Endowment Contract, a contract in which too much premium is paid, resulting in an over-funded policy. A policy loan or withdrawal from a life insurance policy that is considered to be a Modified Endowment Contract may be taxable upon receipt. Also, in the early years of a universal life policy, a percentage of any amount withdrawn may be subject to federal income tax.
A policy loan or withdrawal will reduce the policy's ultimate death benefit and cash value.