Even the most financially savvy people out there know this one universal truth: Saving money isn’t easy. It takes careful budgeting and a serious commitment to reaching your goals. Even when you’re doing your best, unexpected expenses can put a dent in your plan.
You read that right. Whole life insurance doesn’t just protect your family. It also can help protect your financial well-being when there’s a cash value component involved.
It’s a feature of whole life insurance. The cash value of your policy is the accumulated amount of money that Gerber Life sets aside each time you pay your premium. That means that the longer you hold your policy, the longer the cash value builds. Best of all, the cash value of your policy as well as the policy never expires.
How can cash value be used?
When shopping for a life insurance policy, you’ll first want to figure out how much coverage you’ll need to ensure that your family has enough protection. Gerber Life Whole Life insurance offers coverage amounts from $50,000 to $300,000 with affordable monthly premium rates, so you can find a policy that fits your budget.
Keep in mind that your policy’s cash value continues to accumulate as long as premiums are paid. The monthly premium amount you pay when your Gerber Life Whole Life coverage starts automatically locks in, so it’s the same amount you’ll pay throughout the life of your policy. Since premium rates are largely based on your age when you apply, the sooner buy a policy, the lower your lifetime premium rate.
If you have any questions about how the cash value component of a whole life policy works, we’re here to help. Call us at 1-800-425-7542 today to learn more or to apply now for Gerber Whole Life insurance.