Skip to main content

Whole Life Insurance

What is whole life insurance?

Whole life insurance is permanent protection that lasts your entire life, at a guaranteed premium rate that will never increase, regardless of your age or health status. One benefit of a whole life insurance policy is that it accumulates cash value that can be borrowed against during your lifetime.

Benefits of whole life insurance with Amica explained:

  • Choose your coverage amount – From $25,000 to $1 million or more.
  • Customize your coverage – Choose from three plan options to fit your needs.
  • Guaranteed level premium – Lock in a guaranteed premium amount that won’t increase, regardless of age, income or health status.
  • Guaranteed level protection – Life insurance coverage that will remain in place for your lifetime, as long as you pay your premium.
  • Cash value – Accumulates cash value over time that can be borrowed against.
  • Terminal illness rider1 – Included free of charge with all Amica life insurance policies, it allows you, the owner, to receive a portion of the death benefit if the insured becomes terminally ill.

Is whole life right for you?

Whole life may be a good fit if you like predictability, stability and want a payment that never changes. It’s also ideal if you’re looking for permanent coverage. A couple of reasons why whole life insurance may be right for you are: 

  • You want life insurance that remains steady. While you should reevaluate your insurance needs as your life changes, you can keep a whole life policy that you purchased at a younger age and add an additional policy as your needs change. 
  • You want to accumulate cash value. As you pay your premiums for your whole life insurance policy, the cash value of the policy grows. You can borrow against this amount to even pay future premiums if needed.
  • You want tax advantages. If needed, you can borrow from your cash value without current taxation. At your death, the borrowed amount is deducted from the cash value if you haven’t repaid what you borrowed. 

Which types of whole life plans are available?2

We offer three different plans, with coverage from $25,000 to $1 million or more, and several payment options, so you can find a whole life policy that fits your needs and budget. Learn more about each product:

Whole Life 20

Premium payments are complete after only 20 years, and your policy is guaranteed for the rest of your life. This plan is available to individuals up to age 80 at time of issue.

This may be ideal for those who:

  • Want to be done with premium payments in 20 years
  • Want to grow their cash value quicker

Whole Life 65

Premium payments are complete at age 65, when many people are retired or nearing retirement, and your coverage lasts a lifetime. This plan is available to individuals up to age 50 at time of issue.

This may be ideal for those who:

  • Want a policy that’s fully paid by retirement, when their income may be reduced
  • May want to use cash value to pay for retirement costs
  • Are looking for cost certainty during their retirement years

Whole Life 100

Premium payments are complete at age 100. This is an option that provides lifetime coverage at our lowest annual whole life premiums. This plan is available to individuals up to age 80 at time of issue.

This may be ideal for those who:

  • Want permanent coverage at an even more affordable annual premium cost
  • Want a dependable plan to help pay for funeral costs and other financial obligations

How much whole life insurance do I need?

That question depends on your current financial situation and lifestyle, and one of our life insurance specialists would be happy to help you determine the right amount of coverage. Determining life insurance coverage needs depends on many factors, including income, debts or future funding needs like a child’s education or retirement plans. Our life insurance specialists will take the time to understand your needs and help you customize the level of coverage that’s right for you and your family. To get an idea of how much life insurance you need, you can use our life insurance needs calculator.

Why choose Amica?

At Amica, we think choosing the right coverage shouldn’t be complicated. When you contact us, you’ll always speak directly with a specialist who will answer your questions and explain your options in clear, simple language.

We’re proud of our ability to deliver consistent, high-quality customer service for more than a century. We offer competitive life insurance rates, and a variety of product plans that can be customized to fit your needs.

Our financial strength is also something you can depend on. Amica Life has one of the industry’s highest ratings. We’ve earned a rating of A+ (Superior) from AM Best,3 a leading authority on insurance company financial stability.

Behind that solid foundation is a company that cares. We’re with you at every step. That’s why we also help grieving families navigate the challenges bereavement can bring with support and guidance through the Empathy app.

Amica Life policy form numbers

Get started on your whole life insurance quote by giving us a call or by visiting Amica's Needs Calculator online.


Financial Strength Rating, AM Best, A+ Superior

AM Best has awarded Amica Life its second highest rating, A+ (Superior).3

This rider allows you to receive a portion of your death benefit should the insured become terminally ill with a life expectancy of 12 months or less. Some restrictions apply and it's not available in all states. Please consult with an Amica Life insurance specialist for additional information.
Standard form number WL2019-01 in most states.
3 A+ (Superior) is the second highest of 13 company ratings. Ratings range from A++ (Superior) to D (Poor). AM Best's ratings measure an insurer’s financial strength.

ALIC87822 (exp: 1/27)