Permanent life insurance provides coverage for your lifetime. There are several types of permanent life insurance, designed to meet different long term financial planning goals. Whether those goals include retirement planning, creating a financial safety net for your family in case something happens to you, donating money to charities or managing your estate, there is a life insurance plan that can be customized to your needs.
An independent agent in the Trusted Choice® network who specializes in life insurance can give you the help you need. These agents work with multiple insurance companies and can help you evaluate a range of plans, options and rates. Contact a local member agent for help reviewing permanent life insurance and finding the plan that is right for you.
Your specific life insurance needs are unique. Averages and statistics can help you think about what to expect, but your insurance agent will help you get a clearer idea of what your coverage should include.
Permanent life insurance provides a way to secure yourself financially in the long-term while also providing insurance protection for your family. This form of life insurance has several important features that are not found in term life insurance.
The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.
There are other attractive features of a permanent life insurance policy as well. For example:
Permanent life insurance policies can meet several different financial planning objectives:
There are several types of permanent life insurance, but the two most common policy types offer the most options. These are:
These life insurance plans have some common features, but there are also some significant differences.
The main features of whole life insurance include:
The main features of universal life insurance include:
Permanent life insurance may be the right choice for you if you are looking for the long term planning features these policies offer. To get help assessing your life insurance needs from an unbiased professional, talk to an independent agent in the Trusted Choice network. A local member agent who specializes in life insurance can help you review affordable permanent life coverage from several different insurance companies.
When you choose the plan that best suits your needs, your agent can tailor a permanent life insurance solution for you. Find an agent now to get started.