Life Insurance Plans

Western Wind Insurance & Investments is here to help you protect your loved ones with life insurance that provides financial security today and lasting peace of mind for the future.

The Importance of Life Insurance

Life insurance is one of the most meaningful ways to protect the people you love, offering financial stability when they need it most. Whether you want temporary coverage to safeguard your income during your working years or lifelong protection that also builds cash value, understanding the different types of life insurance can help you make a confident, informed choice. Explore the options below to find coverage that aligns with your goals, your budget, and your family’s future..

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The Main Types of Life Insurance

Life insurance helps protect your loved ones financially if something happens to you. It can pay off a mortgage, fund a surviving spouse’s retirement, pay college tuition, and provide financial stability during a difficult transition. It can also assist with charitable giving and wealth transfer across generations. 


The main categories of life insurance are:


  1. Term Life Insurance: Coverage you can keep in place for a set period of time, such as 10, 20, or 30 years, as long as you continue to pay the premiums. Learn More →

  2. Permanent Life Insurance: Lifelong coverage that also builds cash value over time Learn More →

  3. Final Expense Insurance: Coverage that helps handle burial and final expense costs, easing financial stress during a difficult time. Learn More →


Each type serves different needs, budgets, and financial goals. Understanding how they work can help you make a confident choice.

Term Life Insurance: Simple, Affordable Protection

Term life insurance is straightforward — you pay premiums for a set number of years, and if you pass away during that period, your beneficiaries receive the death benefit.



Key Features of Term Life Insurance


  • Temporary coverage: Choose a term length that matches your needs, like until your mortgage is paid off or your kids finish school.

  • Lower cost: Term policies are typically the most affordable way to get significant life insurance coverage.

  • No cash value: The focus is on protection, not investment.

  • Renewable or convertible: Some policies let you renew at the end of the term or convert to permanent coverage later.

Best for:


People who want affordable protection during their working years or while raising a family — without the higher cost of lifelong coverage.

Permanent Life Insurance: Lifelong Coverage with Added Financial Planning Value

Permanent life insurance provides lifelong coverage (as long as premiums are paid) and builds a cash value that grows over time. This makes it more than just a death benefit — it’s a lasting financial resource you can use throughout your life. 


Types of Permanent Life Insurance


Whole life insurance: Fixed premiums, guaranteed cash value growth, and lifetime death benefit protection as long as premiums are paid.


Universal life insurance: Offers flexibility in premiums and death benefit amounts, with cash value growth tied to interest rates.


Key Features of Permanent Life Insurance


  • Lifelong Coverage: Permanent life insurance provides protection for your entire life — as long as premiums are paid — ensuring your loved ones receive a guaranteed death benefit whenever you pass away.


  • Cash Value Growth: Both policy types build tax-deferred cash value over time, which can be accessed during your lifetime.


  • Flexible Access to Funds: Policyholders can use their accumulated cash value through loans or withdrawals, offering financial flexibility for emergencies, education, retirement income, or other needs.

Common Uses for Permanent Life Insurance


Accessing Cash Value for Major Expenses

You can borrow from a permanent life insurance policy to help fund real-life needs, like paying for college tuition, covering a down payment on a home, starting a business, or bridging gaps in retirement income.


Covering Final Expenses & Long-Term Medical Care

Permanent life insurance can be used to pay for funeral and burial costs, settle outstanding debts, or cover medical bills — ensuring your family isn’t burdened with unexpected expenses during an already difficult time.


Legacy & Inheritance Planning

You can use the death benefit to provide a financial legacy for children or grandchildren, equalize inheritances among heirs, or make charitable donations that reflect your values.


Estate Liquidity & Wealth Transfer

For larger estates, permanent life insurance offers a way to cover estate taxes and settlement costs without forcing heirs to sell off assets — helping preserve family wealth across generations.

Whole Life Insurance: Lifelong Protection with Predictability

Whole life insurance is known for its strong guarantees and built-in stability. Unlike other types of permanent life insurance, it offers fixed premiums, guaranteed cash value growth, and a guaranteed death benefit — so you know what to expect throughout your entire life.


With whole life insurance, your cash value grows at a steady, predictable rate, and some policies also offer dividends that can enhance your policy’s value over time. 


Best for:



People who want long-term financial certainty, reliable accumulation, and a policy that never changes, no matter what happens in the market.

Universal Life Insurance: More Than Just Insurance

Universal life insurance (ULI) stands out for its flexibility and customization, offering lifelong protection while allowing you to adjust your policy as your needs change. Unlike whole life insurance, which is more fixed and predictable, universal life gives you control over premium payments, cash value growth, and death benefit options.


What truly makes universal life insurance unique is its ability to adapt as life evolves. Whether you want to increase or decrease your payments, adjust your coverage amount, or focus on building cash value, ULI provides the built-in flexibility to shape the policy around your financial situation.


Best for:


People who want lifelong coverage with flexible premiums, adjustable benefits, and the opportunity to build and access cash value in a way that adapts to their changing financial needs.

Choosing What’s Right for You

If you want simple and affordable protection for a specific time, term life insurance may be ideal.

If you prefer lifelong coverage and the ability to build savings within your policy that can be used for financial planning, permanent life insurance might be the better fit.



Many people even combine both, using term coverage for income protection and a smaller permanent policy for long-term needs. Talk to us to learn about your options and we can help you decide what’s best for your situation.

Life Insurance Frequently Asked Questions

  • What does “lifelong value” mean?

    “Lifelong value” means two things:


    1. The protection stays with you for life (as long as you keep the policy active by paying premiums). It does not expire or require renewal like term policies do.

    2. With whole life, cash value builds automatically at a guaranteed rate. With other types of permanent insurance, growth depends on interest rates or market performance.

    In both cases, you can access the policy’s value while you’re still alive—typically through loans or withdrawals.

  • What happens if I stop paying my life insurance premiums?

    With term insurance, your coverage simply ends — there’s no cash value or refund. With permanent insurance, you may have options. The policy can use its available cash value to cover the costs for as long as possible, and if that value runs out, the coverage will reduce or eventually lapse.

  • Is the death benefit from life insurance taxable?

    In most cases, life insurance death benefits are paid out income-tax-free to your beneficiaries. However, estate taxes or interest from delayed payouts could apply in certain situations, especially with large policies or trusts. We can help you plan for that.

  • Will my life insurance have to be used to pay off outstanding debts?

    In most cases, no. Life insurance proceeds are paid directly to your named beneficiaries — not to creditors — and are generally not part of your estate. That means your loved ones receive the full benefit, even if you have debts like student loans or credit card bills.

    However, if the named beneficiary is your estate (instead of a person), or if you don’t name a beneficiary, those funds may go through probate and could be used to pay off debts.

    To avoid complications, always keep your beneficiaries up to date, and think carefully about the implications before naming an estate as a beneficiary.