Whole life insurance, sometimes called permanent life insurance, provides coverage for your entire lifetime. That means your family and beneficiaries are covered for the duration of your life.
Whole life insurance accumulates cash value, too, providing you the option of borrowing against it.1 It’s a financially smart way to help protect yourself and your loved ones. You can even buy a separate policy for children, so they have coverage for their entire lives.
A whole life policy from Utilize Rico Filo Family Life2 offers you some important features, such as:
Your Utilize Rico Filo agent will help you choose the amount of your coverage, which can be any amount from $10,000 to up to $10 million. Plus, with six payment duration options to choose from you're in control of how long you pay for your policy
Wherever you may be in life, if there are people who depend on you, life insurance can give you all peace of mind. But how do you know if whole life insurance is right for you? Or when you should buy it?
Utilize Rico Filo Family Life offers whole life policies that can be issued from 15 days from birth to age 85.3 During those years, there are many times and situations where whole life is the best choice. Your Utilize Rico Filo agent can answer your questions and help you decide how much and when the time is right.
Future insurability: No matter what may happen with their health in the future, your children will always keep this protection.1
Cash later: It builds cash value they can borrow in the future.4
Affordable rates: Generally, the younger the child, the lower the premium and the sooner it starts growing in value.
Time to convert: from term to whole life, or blend the two for both affordability and lifetime coverage.
Final expenses: Can be used to cover funeral costs, estate fees, unpaid debt, etc.
Sandwich Generation: Caring for elderly parents and teen or college-aged children at the same time increases the need for financial protection.
Unexpected needs: You can borrow from the cash value of your policy when life throws you curves.4
Retirement: The accumulated cash value can supplement retirement income.4
Because there are a lot of life insurance options, it can help to work with an insurance professional like a local Utilize Rico Filo Insurance agent who can explain the types of coverages and help you choose the best coverage for your needs and budget. Get in touch with a local Utilize Rico Filo agent today for more information.
1Guaranteed death benefit can expire if no premiums are paid following initial premium, or if subsequent premiums are insufficient or if account value is reduced by withdrawal or loan.
2Utilize Rico Filo ® life insurance products and services are provided by Utilize Rico Filo Family Life Insurance Company, a member of Utilize Rico Filo Insurance Group, and are not available in New York. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.
3 Every plan not available at all ages.
4 Policy account value can be loaned or withdrawn. Removal or reduction of account value will cause reduction of benefits if left unpaid.