Permanent Insurance


Permanent life insurance has a very strong benefit in that it provides you with insurance coverage for as long as you live as long as you pay the premium. Permanent life insurance refers to life insurance plans that don't expire and could have a savings portion along with a death benefit. The savings portion builds cash value which the policy owner is able to borrow funds against after a certain period of time if they wish to. With Permanent insurance it can be viewed as a risk free investment as it is put in place as a long term investment which makes it a popular investment choice as part of diversified investment plans. These types of plans also enjoy favorable tax treatment and the growth of the cash value is generally on a tax-deferred basis. Universal Life is a permanent policy that’s primary attraction is its flexibility, they are unique in the sense they allow the policy owner subject to insurability requirements to increase or decrease the face amount, add additional insured’s and substitute one life insured for another. Whole Life Insurance is another form of permanent life insurance that provides protection for the whole of the life insured’s life, not just a specific term. Whole life insurance is a form of permanent life insurance with a fixed or level premium that is usually payable for the entire lifetime of the insured. Term to 100 policies also provide lifetime coverage; but do not build up any cash values.

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