Permanent Life Insurance

Like it or not, death is historically batting 1,000. You can eat all healthy and bubble wrap yourself before you leave the bed, but sooner or later (hopefully much, much later) it’ll happen. So there’s no reason you shouldn’t be prepared. That’s what life insurance is for. And if you’re young-ish, permanent life insurance may be the best-priced pick for you.

Don’t worry, our freelance insurance agents grasp all concerning permanent life insurance and square measure here to create positive you are doing too. They’ll look at all the highest life assurance suppliers and kind through multiple quotes to assist realize your best choice. Pretty sweet, huh? But first, let’s speak a small amount of additional concerning permanent life insurance. Or, as we tend to decision it around here, “The Big Perm”.

What Is Permanent Life Insurance?

Simply put, it’s forever insurance. Unlike its well-liked relative, term life insurance, that solely lasts for a preset variety of years, permanent life insurance lasts as long as you do. But it conjointly works a small amount otherwise than term life insurance. Permanent life insurance policies have a money price accumulation feature that grows over time, rather a sort of a bank account. In some cases, you can even borrow money against the amount you’ve accumulated. Now, permanent life insurance can come in a number of different flavors, but the two most common are:
  • Whole life insurance
    • Tax-deferred death benefits
    • Level premiums for the policy’s life
    • Cash value accumulation
      • This will grow regardless of the company’s investment performance.
  • Universal life insurance:
    • Tax-deferred death benefits
    • Flexibility to customize your coverage
    • Options for tailoring your premiums
    • Cash value accumulation
      • You can earn a higher interest on this when rates are high and a guaranteed minimum when they are lower.

What Does Permanent Life Insurance Cover?

Life insurance is like a fraternal twin to property insurances like auto or home. They’re made for the same purpose, but they’re just not the same. Your car insurance covers certain situations, but life insurance is just paid out to your chosen beneficiary when you cash out. See the diff?

Why Should I Buy Permanent Life Insurance?

All sorts of reasons. First of all, if you get a permanent policy when you’re young, it’s very affordable. Plus, it’ll last forever, in contrast to a term life policy that will finish at some purpose and you won’t have any life coverage left.

Then there’s the entire money price accumulation facet to the current coin. You can watch it grow and ne’er bit it till you’re desperate, you’ll borrow against it, OR you can surrender the value and cash it out entirely—that’s all up to you. Plus, your policy is non-taxable till you withdraw funds from the money facet of your policy. But, if you “borrow” a bit of money, it is NON-taxable, same as when the death benefit is paid out—NO TAXES!

In all honesty, it’s just important that you have life insurance. ANY life insurance. The type of insurance that’s right is different for everyone. If it’s solely vital for concerning twenty years till the youngsters are out of the house and your mortgage is finished, then a term policy might be better for you. Or if you’re young, want to take advantage of low premiums, and want a policy that you can just get and forget, perm may be your golden goose.

Whatever your story, one of our independent insurance agents can help answer your questions and help you make the right call for you.

Save on Life Insurance…

How Much Does Permanent Life Insurance Cost?

It depends. Three major factors go into the cost of your permanent life insurance policy:

  • How much do you need?
  • How old are you?
  • How healthy are you?

A permanent life insurance policy is way less expensive if you purchase it when you’re younger. But like your youth, the lower premiums won’t last, and they will go up as the number of candles on your birthday cake do. Now, with a full life policy, your premiums can be “locked-in” and will remain the same for the whole policy. Or, with a universal life policy, they can be altered—that’s all a part of the flexible nature of a universal policy. 

Comparing Permanent Life Insurance Quotes

Our freelance insurance agents can review your wants and facilitate value the permanent life insurance possibility that creates the foremost sense for you. They’ll conjointly compare policies and quotes from multiple insurance carriers to be positive you have the correct protection. For you and your family.

The Priceless Benefits of an Independent Insurance Agent

Life insurance policies may be advanced and ransacking through all the choices may be confusing, time-consuming and frustrating. A freelance insurance agent’s role is to modify the complete method.

They’ll ensure you get the correct coverage that meets your distinctive wants. Not only that, they’ll break down all the jargon and explain the nitty-gritty, so you understand exactly what you’re getting. Find out additional by contacting an insurance broker in your space.

Scroll to Top

Request a Quote

We'd love to have your feedback on your experience so far