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Life Insurance

Whole Life Insurance

As things in life change, the type of life insurance you need can change too. While term life insurance covers you for a specific period of time, whole life is designed to protect you for your entire life. You may want to consider whole life if you own your home or are thinking about retirement.

What is whole life insurance?

Whole life insurance, sometimes called permanent life insurance, provides coverage for your entire lifetime. That means your family and beneficiaries are covered for the duration of your life.

Whole life insurance accumulates cash value, too, providing you the option of borrowing against it.1 It’s a financially smart way to help protect yourself and your loved ones. You can even buy a separate policy for children, so they have coverage for their entire lives.

What Erie Family Life offers

A whole life policy from Erie Family Life2 offers you some important features, such as:

  • Guaranteed life insurance protection that will not decrease
  • Guaranteed cash value that can be borrowed to take advantage of future opportunities1
  • Payments guaranteed not to change, regardless of changes in health
  • Additional accelerate death benefit option for terminal illness included at no charge

Your ERIE agent will help you choose the amount of your coverage, which can be any amount from $10,000 to up to $10 million. Plus, with six payment duration options to choose from you're in control of how long you pay for your policy

Whole life insurance for wherever you are in life

Wherever you may be in life, if there are people who depend on you, life insurance can give you all peace of mind. But how do you know if whole life insurance is right for you? Or when you should buy it?

Erie Family Life offers whole life policies that can be issued from 15 days from birth to age 85.3 During those years, there are many times and situations where whole life is the best choice. Your ERIE agent can answer your questions and help you decide how much and when the time is right.

Whole Life for Your Children

Future insurability: No matter what may happen with their health in the future, your children will always keep this protection.1

Cash later: It builds cash value they can borrow in the future.4

Affordable rates: Generally, the younger the child, the lower the premium and the sooner it starts growing in value.

Whole Life for Your 30s and 40s

Time to convert: from term to whole life, or blend the two for both affordability and lifetime coverage.

Final expenses: Can be used to cover funeral costs, estate fees, unpaid debt, etc.

Maintain lifestyle: Can allow loved ones to stay in the family home, school district and lifestyle they’re accustomed to after your death.

Whole Life for Your 50s and Older

Sandwich Generation: Caring for elderly parents and teen or college-aged children at the same time increases the need for financial protection.

Unexpected needs: You can borrow from the cash value of your policy when life throws you curves.4

Retirement: The accumulated cash value can supplement retirement income.4

ERIE Whole Life Protector

With ERIE Whole Life Protector, you’ve got protection for a lifetime with features such as:

  • Coverage and premiums guaranteed for the lifetime of your policy1
  • Coverage designed to assist with final expenses, unpaid debt, supplemental retirement income or leaving an inheritance for loved ones
  • Guaranteed cash value that grows over time and can be accessed if needed4

ERIE Whole Life Accumulator

With ERIE Whole Life Accumulator, you get the same benefits as ERIE Whole Life Protector, plus the benefit of building higher cash value over time, which can provide a larger cash value source during your lifetime.  

Term vs. Whole Life Insurance

There are two basic types of life insurance policies - term life insurance and whole life insurance.


Learn all about the difference and see which policy suits your needs.

Get in touch with an ERIE Agent

Because there are a lot of life insurance options, it can help to work with an insurance professional like a local Erie Insurance agent who can explain the types of coverages and help you choose the best coverage for your needs and budget. Get in touch with a local ERIE agent today for more information.

  • 1

    Guaranteed death benefit can expire if no premiums are paid following initial premium, or if subsequent premiums are insufficient or if account value is reduced by withdrawal or loan.

  • 2

    ERIE® life insurance products and services are provided by Erie Family Life Insurance Company, a member of Erie Insurance Group, and are not available in New York. See individual policies for specific coverage details. Certain terms and limitations may apply. Refer to our disclaimer for additional information.

  • 3

    Every plan not available at all ages.

  • 4

    Policy account value can be loaned or withdrawn. Removal or reduction of account value will cause reduction of benefits if the amount borrowed or withdrawn is not repaid.

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