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Whole Life Insurance
Whole Life Insurance
Lifelong Protection and Options for the Future
Whole life insurance has been around for a while, but this is much more than your father’s life insurance policy. Whole life insurance has guaranteed cash value growth, no matter what the market does. This cash value can be used during your life to help you on life’s adventures and provide options to supplement your retirement income. Explore the features of whole life insurance offered by American United Life Insurance Company®, a OneAmerica company, or get information from a financial professional.
All of our whole life insurance policies offer:
- Level death benefit – Your death benefit will not decrease* if policy premiums are paid. (* Any policy loans/withdrawals will affect the death benefit if not paid back with any applicable interest)
- Level premium — Your premiums will remain the same for the life of your policy.
- Cash value growth – Your whole life policy has guaranteed cash value growth each year, independent of how the market performs.
- Dividends – AUL is a mutual company, meaning our policyholders have the ability to earn dividends on their policy each year.
- Customization – Our entire suite of whole life products allow customization through riders so the policy can fit your goals and needs.
- Tax-benefits –The death benefit proceeds are paid to your heirs generally tax-free.
Think whole life will cost too much?
While whole life insurance is more expensive than term insurance, our financial professionals can be respectful of your budget by looking at your overall financial picture. Our financial professionals will strive to find a way to not take any additional money out of your budget and increase your overall retirement picture.
How does whole life insurance fit into a retirement strategy?
Many people have 401(k)s, stocks, bonds, mutual funds, real estate and/or their business ear-marked for funding their retirement. While these are important items as part of diversification and your overall retirement strategy, they are all subject to how the stock/real estate market performs. Whole life insurance can offer a cushion to your market sensitive items as the cash value (usable during your lifetime for any reason) is not correlated with market performance.
What about buying term life insurance and investing the difference?
This strategy is sound, but studies have found that many people cannot commit to investing the difference1. In addition, many people don’t have a savings account that can support them for more than a few months2. Whole life insurance has the built-in savings component as well as helping your family continue their lifestyle when you are no longer there.
Protect your commitments. We’ll deliver on our promises.
What is my Economic Life Value?
Your Economic Life Value is the financial impact your family would feel in the event of your premature death. To help protect your family and lifestyle, consider life insurance as a solution. Life insurance is meant to replace your paycheck, employer benefits and your other financial contributions. Find out what your Economic Life Value is here.
Why would whole life insurance make sense for me?
Consider buying whole life insurance if you have a permanent need for protection, such as you have a family to provide for or you want to leave a legacy for generations to come. If you have a cause that is dear to you, the death benefit can go to your favorite charity.
Explore your options today!
Our Economic Life Value calculator can help establish how much coverage you may consider when discussing life insurance with your financial professional. Talk to a financial professional today to talk about whole life insurance.
Notes: Products issued and underwritten by American United Life Insurance Company® (AUL), Indianapolis, IN, a OneAmerica company. Form series: L-60. Not available in all states or may vary by state. Withdrawals and loans from a life insurance policy reduce the death benefit and cash value, may increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured. Life insurance should be purchased by individuals that have a need to provide a death benefit to protect others with insurable interests in their lives against financial loss. Life insurance is not a retirement plan, investment, or savings account.
1. Web. Buy Term and Invest the Difference: Common sense or nonsense? April 2, 2018
2. Forbes. 23% Of Americans Save No Money From Their Paycheck. April, 2019
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Economic Life Value
Life insurance helps replace more than just your income.