Whole Life Insurance
Whole life insurance is more than just a policy – it’s lifelong peace of mind. As a type of permanent life insurance, whole life provides coverage that lasts a lifetime, not just a term. But its value goes beyond protection. It grows with you, building guaranteed cash value over time, offering flexibility and financial support when you need it most. Whether you're starting a family, planning for retirement or just thinking ahead, whole life insurance can be a strong foundation for a more secure future.
Benefits of whole life insurance
A whole life insurance policy isn’t just about a death benefit; it’s a long-term financial tool that offers protection, predictability and potential.
Guaranteed lifetime coverage
One of the most reassuring aspects of whole life insurance is the guaranteed lifetime coverage. As long as your premiums are paid, your policy stays active – no matter how old you are or how your health changes over time. That means you can rest easy knowing your family will be taken care of, whatever life brings.
Level premiums
With a whole life insurance policy, your premiums are locked in for life. They’ll never increase, regardless of what happens with your health, income or age. That kind of predictability makes budgeting easier and it protects you from rising costs as you age.
Cash value accumulation
As you continue to pay your premiums, your policy begins to build cash value, which grows tax-deferred over time. You can even borrow against your cash value if you need it for emergencies, education or flexibility in retirement.
- Policy loans are tax-deferred if repaid.
- If you don’t repay the loan, the unpaid balances are deducted from your death benefit.1
Securing your legacy
Provide financial security for your grandchildren by purchasing a policy in their name while they’re young and healthy – when premiums are lower and there’s more time for cash value to grow.2
Charitable giving
Support the causes you care about with one final, meaningful gift. Whole life insurance allows you to make a guaranteed charitable donation by naming an organization of your choice as the policy’s beneficiary.
Whole life insurance options to fit your needs
Every family, every future and every financial journey is different. That’s why Amica offers multiple whole life insurance plans. With coverage ranging from $25,000 to over $20 million, you can choose what works best for you.
| Policy option | Premium payment period | Ideal for | Availability |
|---|---|---|---|
| Whole Life 20 | Pay for 20 years | Building cash value quickly or retiring early | Up to age 80 |
| Whole Life 65 | Pay until age 65 | Those who want to finish payments before retirement | Up to age 50 |
| Whole Life 100 | Pay to age 100 | Lifetime coverage with lowest annual premiums | Up to age 80 |
Built-in features and customization:
All plans come with a built-in Terminal Illness Rider,3 which allows you to access a portion of your policy’s death benefit if you’re diagnosed with a terminal illness.
Why choose Amica?
The Amica experience
We’re here to listen and to help you make the best choices for your family. With a long-standing reputation for financial strength and reliability, Amica provides life insurance solutions you can count on. We’re proud to be a name families have trusted for generations.
Exceptional value
From multiple policy options to affordable premiums, we make it easy to get the right coverage at the right price. As your life changes, your coverage can change with you – offering the flexibility to meet your evolving needs.
Quality service
Our dedicated life insurance team, backed by a history of customer satisfaction, will help you choose the best policy for your goals, answer your questions and make managing your coverage simple. We’re committed to providing personalized support and guidance, not just during your application but throughout your policy’s lifetime.
Reliable protection
From our top-tier financial ratings to our simplified application process, Amica offers security you can trust. With responsive service and compassionate claims support, you can find peace in knowing you’re protected. We’re with you at every step, also offering grieving families support and guidance through the Empathy app.
Common questions about whole life insurance
There’s no one-size-fits-all answer. Do you want to cover funeral costs? Leave a legacy? Help a spouse or children financially? It depends on your family’s needs, financial commitments and long-term goals.
Whole life policies are generally fixed once purchased. But life changes, and we understand that. If your needs grow, you may be able to add additional coverage through a new policy. You can also lower your coverage after your policy starts, as long as it stays above the minimum amount allowed.
Yes, when life throws the unexpected your way, it’s reassuring to know you can access your policy’s cash value. These loans are tax-deferred and you can use the funds for anything, just keep in mind that unpaid loans reduce your policy’s death benefit.
Absolutely. Many of our term life policies offer a conversion option, meaning you can switch to permanent coverage within a certain period, regardless of your health. It’s a great way to maintain coverage as your needs evolve. To see if you qualify, speak with an Amica life representative or check your term life policy.
Your policy typically has a grace period. If payment isn’t received during that time, the policy may lapse but you may be able to reinstate it within a certain time frame. Whole life policies with cash value have certain nonforfeiture options (NFO) that allow you to continue the policy while discontinuing premium payments.4
Generally, your death benefit is income tax free for your beneficiaries. Your cash value also grows tax-deferred and loans are typically not taxable if repaid properly. Still, it’s always a good idea to consult a tax advisor to fully understand how your policy fits into your overall financial plan.
Insights and guidance for whole life insurance
Customer service that earns loyalty
Empathy isn’t just a word – it’s woven into every interaction with our policyholders. Their experiences are a testament to the trust and loyalty built over decades of compassionate service and support.
Get started on your whole life insurance quote by giving us a call or by visiting Amica's Needs Calculator online.
Life Insurance Policy issued by Amica Life Insurance Company.
1 Loans are subject to interest, and any unpaid loan balance, including accrued interest, will be deducted from your death benefit. If the loan balance exceeds the policy’s cash value (“overloans”), the policy may lapse. Unpaid loans, including loan interest, can also reduce policy cash value.
2 Although you may be the owner, payor and beneficiary of your minor grandchild’s life insurance policy, the child’s parent or legal guardian is required to be the applicant on the policy.
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.
4 For nonforfeiture options (NFO), the face amount will be reduced or the face amount would stay the same but for a shorter time period.
Amica Life policy form numbers
ALIC10925 Jun-27