Permanent Life Insurance Information
What is Permanent life insurance?
Permanent insurance provides lifelong protection. In other words, it does not terminates as Term insurance does. Permanent insurance provides Life Insurance coverage for your entire life as long as you pay the premiums, the full face amount will be paid plus any accumulated savings to your beneficiary. Because it is designed to last a lifetime, permanent life insurance accumulates cash value and is priced for you to keep over a long period of time. You can use the accumulated savings as supplemental retirement income or leave untouched for your beneficiary.
Are there different types of Permanent Life Insurance?
Yes, there are several types of Life Insurance that will provide permanent coverage. Among them: Whole Life Insurance, Variable Life Insurance, Universal Life Insurance, Variable Universal Life Insurance and Indexed Universal Life Insurance.
Which type of Permanent Life Insurance is recommended?
The permanent Life Insurance Indexed Universal Life (IUL) provides great flexibility to meet the demands of anyone's life while providing protection and peace of mind. It provides a death benefit to help protect your loved ones from financial uncertainty. The amount of coverage and premium contributions can be adjusted. It provides potential for cash value accumulation. It never exposes your premium dollars to market risk. Optional riders provides the potential for guaranteed income for life. Indexed Universal Life provides living benefits in the event of a qualifying terminal illness, chronic illness, critical illness or critical injury. Six index crediting strategies including a fixed interest account. Indexed Universal Life offers an option that allows the death benefit to increase as the accumulated cash value increases. Should your needs change after you've selected a death benefit option, you may switch options.
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Choosing the right permanent life insurance policy involves many working parts. We’re happy to help you select a policy and set up your investment options. Contact us today to protect your family’s financial future.