Why Purchase Permanent Life Insurance?

Why Purchase Permanent Life Insurance?

A permanent life policy provides lifelong insurance protection. The policy pays a death benefit if you die tomorrow or if you live to be a hundred. There is also a savings element that will grow on a tax-deferred basis and may become substantial over time. Because of the savings element, premiums are generally higher for permanent than for term insurance. However, the premium in a permanent policy remains the same, while term can go up…

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How Can I Replace a Permanent Life Insurance Policy?

How Can I Replace a Permanent Life Insurance Policy?

Because of the cash-value elements and its complexities, it is much more difficult to analyze a permanent life insurance policy in a potential replacement situation. Also, there are many different types of permanent policies. The worksheet provided here offers assistance on any policies that builds cash value, including whole life, universal life, variable life, variable universal life, and other variations.

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What Are the Differences Between Term and Permanent Life Insurance

What Are the Differences Between Term and Permanent Life Insurance

As of right now, there are over 1,500 active life insurance companies, each offering a variety of policies, which makes for an endless amount of available options. This can make your decision even more difficult. No guide, adviser or reference can feasibly cover every type of policy. This column is designed to help you distinguish the differences between term and permanent life. For starters, all life insurance policies promise to pay an agreed sum of…

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