Whole life insurance is the original permanent policy. It provides coverage for you till your demise or for a hundred years. Whole life insurance may not be suitable for every kind of policyholder and it is best to consult an insurance advisor to discuss whether it is suitable for your needs. Whole life insurance policy is a lot more complex and confusing when compared to its limited brother, term life insurance. Even though it is a difficult policy, whole life insurance has its own benefits. They are listed below;

1. It guarantees death benefit.
   Whole life insurance is a permanent policy which lasts for the duration of your entire life.
   This policy ensures that when the person who has taken the policy leaves the world, his beneficiaries are given the death benefit. This is possible if all the premiums are paid. It is very useful in planning an inheritance for your loved ones. It also gives the added benefit of not having to worry about living beyond the date of maturity of the policy and also allows your family to be financially secure after your death.
2. You do not have to worry about changing premiums.
   In a whole life insurance policy plan, the premium decided at the beginning or during the formulation phase of the policy remains the same. The company does not have the right to increase or decrease your premium amount at their will or according to changes in your economic status.
3. Cash value is an added benefit!
   Cash value is definitely an added benefit of your policy. The policies build cash value over time and hence provide a way for you to plan your investments for the future with the certainty that you have a cash value to rely on. You can even borrow a loan against the cash value of the permanent policy.
4. Planning to purchase an estate? Whole life insurance policy can help!
   The insurance policy that you have taken can provide you with enough income in the form of dividends to be able to plan and purchase an estate. It helps you avoid estate taxes and allows you to save money.
5. You don’t have to give multiple exams!
   This policy does not require you to take additional medical assessments even if your health condition change over the years since it is a permanent policy.