permanent life insurance Archives - Life Insurance Articles

Why Purchase Permanent Life Insurance?

Posted on December 16, 2019January 8, 2020 by Insurance Information Institute

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…

Is a Policy Inside a Qualified Retirement a Good Idea?

Posted on August 8, 2019February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

Paying life insurance and annuity premiums with qualified-plan dollars is quite controversial. Every situation is different; some may benefit from a plan life this while others may not. A good place to start is by looking at a 403(b) plan, which is a tax-deferred retirement plan for employers of school and other nonprofit organizations.

What Are the Differences Between Term Life and Permanent Life Insurance

Posted on July 21, 2019November 19, 2019 by Emily Miller

Life insurance is a financial security net that protects your family when you pass away. It provides monetary support, which can be used to pay for the funeral, help make ends meet, pay off debt or even help pay for future expenses like college tuition. Its tax-free payment that can be used for any purpose after an unexpected loss. Is term life or permanent life insurance right for you? One benefit that life insurance has over direct…

The Importance of Life Insurance Policy Illustrations

Posted on July 18, 2019February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

When dealing with permanent cash-value life insurance, sales are usually based on illustrations and product analysis. These illustrations are used to highlight project interest rates and future values, which are then shown to potential clients. But before any decisions, it is important to understand all the elements and components of these policy illustrations.

What is Whole Life Insurance and Will It Really Last Until I Die?

Posted on July 8, 2019February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

Whole life – often called ordinary life or straight life – is the original permanent life insurance policy, which is still the most commonly used in-force policy today. Over the past 20 years, this policy has become less popular, with the introduction of universal life, variable life, and variable universal life. These policies are less rigid than whole life.

What Life Insurance Has Cash Value?

Posted on July 8, 2019February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

The metaphor of a barrel rolling down a hill is a basic portrayal of how a cash value life insurance policy works. It effectively explains how premiums add funds to the account, how insurance companies take out their expenses and how to calculate your surrender value.

Cash Value Life Insurance Explained

Posted on July 3, 2019February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

Permanent life insurance has a level premium that must be paid to keep in-force, which is generally higher than the premium for term life. But in return, permanent policies will accumulate a cash value, which is often tax deferred. Under most circumstances, you can borrow against the policy value.

Special Insurance Considerations for Dependents

Posted on January 6, 2019January 10, 2020 by Karla Sullivan

Children and spouses are just one group of dependents that may require cash proceeds from a life insurance policy. Age and direct ties to your family are a couple things to think about if the worst should happen to you.

Distant relatives, ex-in-laws, foster children, and child support for any illegitimate children may also require additional streams of cash, notes Edward Graves, author of “McGill’s Life Insurance.”

Term Life vs Permanent Life Insurance

Posted on May 24, 2017February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

While it’s controversial among the experts, the question of whether to buy term life insurance or permanent life insurance – and invest the difference – is a key factor in building a successful financial strategy. People who purchase life insurance generally associate themselves into one of two “camps” who prefer one type of insurance to the other. The whole life camp consists of the “True Believers,” to whom buying life insurance is the answer to every…

What Is Life Insurance Inside a Qualified Plan?

Posted on May 8, 2017February 28, 2020 by Tony Steuer, CLU, LA, CPFFE

Qualified retirement plans are designed to encourage employees to save money now, so that they will have enough to sustain themselves when they are no longer working. A plan like this meets all the requirements of the Internal Revenue Code, which means it is eligible for certain tax benefits. In simpler terms, a qualified plan is a tax-favored accumulation vehicle like permanent (cash value) life insurance.

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permanent life insurance

Why Purchase Permanent Life Insurance?

Is a Policy Inside a Qualified Retirement a Good Idea?

What Are the Differences Between Term Life and Permanent Life Insurance

The Importance of Life Insurance Policy Illustrations

What is Whole Life Insurance and Will It Really Last Until I Die?

What Life Insurance Has Cash Value?

Cash Value Life Insurance Explained

Special Insurance Considerations for Dependents

Term Life vs Permanent Life Insurance

What Is Life Insurance Inside a Qualified Plan?

Life Settlement

What Is the Process for a Life Insurance Settlement?

What Is Equity-indexed Universal Life Insurance?

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