Introduction to Whole Life Insurance

A life insurance policy protects your beneficiaries from financial hardship in the event of your death. But did you know you could also use your policy as an investment tool? Unlike "pure insurance," whole life insurance builds cash value over time. Some policies allow you to invest this cash value in a variety of investment choices. If need be, you can even borrow from your policy cash value.

While whole life insurance has been played down in the popular press, it does serve a purpose in certain financial planning strategies. As an educated investor, you owe it to yourself to learn the pros and cons of whole life insurance to see if it makes sense in your financial plan.