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…

Read More

What Are the Differences Between Term Life and Permanent Life Insurance

What Are the Differences Between Term Life and Permanent Life Insurance

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…

Read More

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

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

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.

Read More

Five Basic Types of Life Insurance Policies

Five Basic Types of Life Insurance Policies

When it comes time for you to purchase a life insurance policy, you have the option of choosing from five different types of policies with each of them offering their own unique benefits. These five basic types of life insurance policies are term life, whole life, universal life, endowment, and annuity. The basic structure of the first four is to create a principle sum or estate through either the death of the insurer or through…

Read More
1 2 3