Whole Life Insurance protects as long as you live and builds cash values on a tax-deferred basis. Whole Life Insurance is our oldest and most popular type of life insurance. It protects you for as long as you live if your premiums are paid. This type of insurance also allows you to build cash values on a tax-deferred basis.
There are several advantages to choosing Whole Life. It is less expensive over the life of a certificate. Protection is guaranteed for life (as long as premiums are paid). Premium costs are fixed. It allows cash accumulation that can be used for emergencies, to pay for college, supplement your retirement, or purchase paid-up insurance. It allows tax-deferred accumulation, as well as tax-free income distribution to your beneficiary. Coverage can continue by using various options, even if you discontinue paying premiums.
Our Whole Life Plan is a traditional life insurance plan that provides permanent protection, while cash value benefits grow. Your coverage typically lasts your entire life, and you pay premiums for as long as you’re covered. The death benefit is a set amount, and your premiums are a set amount. It accumulates cash value tax-deferred; you can borrow against the cash value, but unpaid policy loans and interest will be deducted from your death benefit. Initially, whole life premiums are higher than term premiums; however, because whole life premiums do not increase in the longer term, whole life can be a more cost-effective way to protect your family.
Contact your local Agent to find out if our Whole Life Plan is right for you!
If you need permanent life insurance protection that lasts a lifetime but don’t want a lifetime of payments, Limited Pay Whole Life from Catholic Insurance is for you.
This straightforward plan combines the benefits of permanent insurance with flexible payment options that can end in as little as 10 or 20 years. Best of all, Limited Pay Whole Life builds cash value tax-free. You can use this cash build-up to help with college costs, to make a down payment on a home, or to augment your retirement income.
Limited Pay Whole Life is available from 14-days old through age 85 and in amounts as little as $25,000.
Individuals – your life insurance coverage can be fully paid for by the time you retire while maintaining the valuable protection you need. Additionally, you can use the cash value to enhance your income during your retirement years.
Parents – you can be insurance premium debt-free by the time your children enter college or leave the nest.
Grandparents – you can give your grandchild a financial head start. Since life insurance is less expensive at younger ages, Limited Pay Whole Life enables you to provide financial security while building valuable cash.$25,000 to as much as $5 million.
In fact, a plan purchased early in a child’s life could result in paid-up insurance by the time they graduate from college. What a great gift! Unlike a bike, skateboard, or toy, your child or grandchild will never outgrow this gift.
Contact your local Agent and find out if Limited Pay Whole Life Insurance is right for you!
Planning for retirement is more critical than ever before. With thousands of people turning 65 every day, it’s important to be prepared. That’s why Life Paid Up at 65 from Catholic Life Insurance is an ideal plan for individuals who are planning ahead for their golden years.
Life Paid Up at 65 is a permanent insurance plan with premiums that end at age 65. By paying all your premiums by the time you retire, you free-up your cash and your time for other pursuits or expenses. Best of all, Life Paid Up at 65 builds cash value tax-free while maintaining the valuable protection you need. You can use this cash build-up to supplement your retirement income.
Life Paid Up at 65 is available from 14-days old through age 50 and in amounts as little as $25,000 to as much as $5 million.
- Affordable permanent life insurance protection
- Limited payment period
- Guaranteed premiums
- Competitive pricing
- Valuable cash value build-up
- Tax-free death benefit. No matter the size of your death benefit, it can pass to your beneficiaries income tax-free
Contact your local Agent and find out if Life Paid Up at 65 Life Insurance is right for you!
We’ve updated our Single Premium Whole Life Plan to make it even more beneficial. This a traditional life insurance plan that provides permanent protection, while cash value benefits grow. Make just ONE payment for coverage that lasts your entire life. The one-time payment enables you to purchase, in most cases, a larger amount of protection. This product is an excellent choice if you want to increase the amount your heirs will inherit.
Individuals who are 0-85 years of age may apply.
Contact your local Agent to find out if our Single Premium Whole Life Plan is right for you!
This life insurance plan combines life insurance protection with accelerated benefits that can be used to help pay for a nursing home or home health care.
Who’s eligible? Individuals 40 to 79* years of age may apply.
How does SPWLPlus work? Your doctor must certify that you are chronically ill. We define this as having a permanent inability to perform at least two of the following activities of daily living: bathing, continence, dressing, eating, toileting, and transferring.
With a 90-day elimination period, you may request one accelerated benefit payment per the calendar year.
The amount available is equal to the lesser of 3% of the original face amount times the number of months remaining in the current calendar year. There are no restrictions on how you may use the accelerated benefit proceeds.
The death benefit remaining in the certificate can pass income tax-free to your beneficiaries when you die. As a result, Catholic Life’s SPWLPlus plan enables you to cover your chronic illness needs and provide a death benefit for your family.
Contact your local Agent to find out if Single Premium Whole Life Plus is right for you!
*Eligibility is limited in later years. Please see the contract for details. This plan not available in Florida.
If you are like most people, you are a procrastinator when it comes to planning ahead. However, with the average cost of a funeral now exceeding $7,000 (according to the Federal Trade Commission) and the Social Security Death Benefit currently at just $255, your family could face an unexpected financial burden if you fail to plan.
Our Final Expense Life Insurance is permanent life insurance that offers a simple, yet affordable way to plan ahead and meet your financial obligations.
Designed for individuals 40 to 80, Final Expense coverage is available from as little as $5,000 to as much as $35,000 death benefit. Your health determines your coverage. While this plan requires no exams, it is not a guaranteed issue plan. Applicants are subject to modified underwriting.
- No medical exam required
- Premiums remain level
- Flexible payment options
- Cannot be canceled except for non-payment
- Coverage available from as little as $5,000 to as much as $35,000 death benefit
- Tax-free death benefit
- Accumulate cash value that grows tax-free
- Beneficiary of your choice
Contact your local Agent to find out if our Final Expense coverage is right for you!