Whole life insurance, also known as traditional life insurance lasts for an insured's lifetime, as opposed to term life insurance which is for a specific number of years. It provides permanent death benefit coverage for the life of the insured. In addition to paying a death benefit, whole life insurance also contains a savings component in which cash value may accumulate.
Lumico Whole Life insurance is a simple protection solution with affordable premiums and guaranteed cash value. On top of lifelong protection, qualified applicants receive instant decision and immediate coverage.
Cash value accumulation
Tax-free interest1
Guaranteed premiums
Product Specifications
Issue Ages
18- 70
Minimum face amount
$30,000
Maximum face amount
$1,000,000 for ages 18-64 $250,000 for ages 65-70
Cash values
All values guaranteed
Cash value equals face amount at age 121 and is paid to the owner if insured is still alive and policy is still in force
Cash value can be accessed via policy loan (no partial surrenders)
Premium structure
Level and payable to age 120
Premiums guaranteed for life of policy
Premium frequency
Annual, semi-annual, quarterly, monthly
Rider options
Included
Accelerated Death
Optional
Accidental Death
Dependent Death
Replacements
Yes*
*You can replace your existing life insurance policy with a new Lumico life insurance policy.
For complete coverage information, download a copy of our Whole Life fact sheet.
As you continue to pay premiums, you can borrow against the cash value, tax-free. That means, you’ll have extra funds for all of your financial needs, whether planned or unexpected.
Whole Life can give peace of mind to your loved one.
Save for a comfortable
retirement
help send your children to
College
Leave your family a financial
Legacy
1Any discussion of taxes is for general and informational purposes only; does not purport to be complete or cover every situation; and should not be construed as legal, tax or accounting advice. Clients should confer with their qualified legal, tax and accounting advisors as appropriate.
For help with your Whole Life insurance policy, please contact our life insurance customer care team on 1-866-440-4047.
