All About The Best Whole Life Insurance

Planning for your spouse's or your death is a part of family planning. This will ensure your family is provided for after your departure. Many people are unsure whether they should choose whole life or term life when choosing a policy. 

Understanding the various types is helpful so you can make informed decisions during family planning and care. You can also look for the best MassMutual whole life insurance via the web.

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Whole Life Insurance

This plan can be used as an investment vehicle and an insurance policy. The insurer pays a fixed annual dividend to a tax-deferred account. This money goes towards your beneficiaries in the event of your untimely death. 

The money paid into the policy becomes a cash value that you can borrow against or draw out if you or your beneficiaries do not file a claim. There are three types: universal, universal, and variable universal whole life insurance.


This policy is the most basic type of whole life insurance. This tool allows the purchaser to pay into a guaranteed death benefit that can be used by the beneficiary in case of death. A portion of the premium, or payment, goes into a secure investment.

Variable life

Whole life provides many benefits to the insured, including cash accumulation, cash cash cash, continuous payments, no taxes, and higher growth potential. Term insurance allows you to purchase term and then invest the remainder in mutual funds throughout the term.