Permanent Life Insurance

Permanent life insurance ensures continuous protection, offering a payout to your designated beneficiary upon your passing, as long as premiums are consistently paid on schedule.

These policies have the unique feature of accumulating a cash value that can be utilized through withdrawals, loans, or even to cover policy premiums. In some instances, permanent life insurance policies may also yield dividends.

There are three main types of permanent life insurance:

  1. Whole Life Insurance: Featuring level premiums throughout the policy’s duration, whole life insurance comes with a cash value component that grows over time.
  2. Universal Life Insurance: Many universal life insurance policies provide flexibility, allowing you to adjust premiums to meet evolving needs. Similar to whole life insurance, universal life policies can accumulate cash value that may be employed to cover premiums.
  3. Variable Life Insurance: The cash value in a variable life insurance policy may include investment options such as money market funds, stocks, and bonds. Like other permanent life insurance types, variable life insurance ensures lifelong protection as long as premiums are paid promptly.

Each type of permanent life insurance is crafted to address specific financial needs, offering a range of options to suit diverse requirements.

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