Two primary types of life insurance are available for those who want to leave something behind for their loved ones: term life and whole life policies. While they may cost more, whole life policies are famous for their numerous benefits. These advantages are valuable to many people. If you need life insurance, give us a call at IAL Insurance in Indianapolis, IN.

Insured for Your Whole Life

Unlike term life insurance, a whole life policy stays in effect for your whole life, including the golden years when many people need insurance the most. If you were to opt for a term policy, it would expire after a certain number of years. A whole life policy, however, does not expire. You can keep your whole life policy for as long as you want. This is a major benefit of this type of life insurance, and many people select it because they know they’ll never have to try getting another policy. No matter how old they get, the policy will remain in effect, providing lifelong coverage.

The Cash Value

Another significant benefit that makes whole life policies popular is that they gradually build up a cash value. This cash value is an amount that the policyholder can borrow against when they need instant cash. Financial emergencies can happen to anyone, and many appreciate the peace of mind knowing there’s an amount available should they need to borrow it. The borrowed amount is paid back to the insurance company over time, just like any other loan.

Secure Your Indiana Life Insurance Policy

You need life insurance when you have loved ones who depend on you. Call IAL Insurance in Indianapolis, IN, for more information on whole life coverage.