You have to pay periodically according to the terms and conditions of your premium amount. Moreover your premiums usually remain stable over your life of the policy. You can also go for the option of a single premium where you need to pay all of the premiums once with a single lump sum. When you will reach at the age 100 years, your cash values will grow to equal the amount of the death benefit.

However the whole life insurance is very expensive. If you have a limited budget then you may not be able to purchase whole life insurance coverage that you actually require. But the advantage is that the death benefit is guaranteed as long as premiums suits. Even, if you don't borrow against your cash value your death benefit will also never decrease.

Returns of your whole life insurance policy may vary with the markets. But if you have decided to stop your policy, you will able to get your value in cash or paid-up insurance.

Whole life insurance is most suitable for you, if you want to:

- use it as a tax and estate planning vehicle,

- accumulate cash value for a child's education or retirement,

- pay final expenses,

- Donate money for a favorite charity,

- fund a business buy/sell agreement,

- provide key person protection.

Before buying the whole life insurance, you have to believe cautiously about selecting your level of coverage. People very often make mistakes of inadequately covering or over extending finance in them. If this happens it will make a tragic problem with whole life insurance policy because of failure to pay premiums. This may lead to cancellation of the policy and you will loose your entire investment.