Permanent Life Insurance
Permanent life insurance is often called whole life insurance because it covers you for your whole life.
What is permanent life insurance?
Permanent life insurance is often called whole life insurance because it covers you for your whole life. It gives your beneficiaries a tax-free payment after you die. Some plans can build cash value over time. Permanent insurance costs are usually guaranteed not to increase from the time you first buy the policy. And some permanent insurance plans let you pay for a limited time and then never again. Universal life and whole life are two forms of permanent life insurance that you may want to consider.
Benefits of Permanent Life Insurance:
With this type of coverage, you have the dual security of knowing that while your premiums will never change, in the event of your death, your beneficiaries will receive the policy benefit tax-free.
Lifetime Coverage
With permanent life insurance, you are covered for life—your coverage does not end after a certain term.
Guaranteed Premiums
Premiums are guaranteed when you buy your coverage and remain unchanged for the life of your policy.
Tax-Free Benefit
Permanent life insurance provides a tax-free death benefit to your beneficiaries when you pass away.
