Permanent Life Insurance

Financial Protection for Your Family and Your Future

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Lifetime Death Benefit

Secure a lifetime death benefit that protects your loved ones from the financial loss in the event of your death

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Cash Accumulation

You’ll value the opportunity for cash accumulation that will help with financial needs like college funding, retirement income, or emergencies.

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Policy Flexibility

Take advantage of the flexibility to adjust payment amounts and frequency, as well as the ability to change the death benefit.

Permanent Insurance  – Coverage for a Lifetime

Permanent life insurance products are designed to last a lifetime and offer guarantees that temporary life insurance cannot provide. Although term insurance is the most affordable type of life insurance, it does not build cash value or earn interest for the policyholder. With permanent insurance, the policyholder earns interest on the cash account that can be accessed when needed through policy loans or partial surrenders. The most popular permanent life insurance products are Universal Life and Whole Life.

Universal Life Insurance is a type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance), which is invested to provide a cash value buildup. The death benefit, savings component and premiums can be reviewed and altered as a policyholder’s circumstances change. Unlike whole life insurance, universal life insurance allows the policyholder to use the interest from his accumulated savings to help pay premiums over time.

Whole Life Insurance, sometimes called “straight life” or “ordinary life,” is a life insurance policy which is guaranteed to remain in force for the insured’s entire lifetime, provided required premiums are paid, or to the maturity date.  As a life insurance policy it represents a contract between the insured and insurer that as long as the contract terms are met, the insurer will pay the death benefit of the policy to the policy’s beneficiaries when the insured dies. Because whole life policies are guaranteed to remain in force as long as the required premiums are paid, the premiums are typically much higher than those of term life insurance where the premium is fixed only for a limited term. Whole life premiums are fixed, based on the age of issue, and usually do not increase with age. The insured party normally pays premiums until death, except for limited pay policies which may be paid-up in 10 years, 20 years, or at age 65. Whole life insurance belongs to the cash value category of life insurance, which also includes universal life, variable life, and endowment policies.

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What are the Pros and Cons of Universal Life Insurance?

What are the Pros and Cons of Universal Life Insurance?

With a product name of “Universal Life Insurance,” consumers might be mistaken that Universal Life Insurance is the perfect insurance solution for everyone. Quite frankly, it’s not. There are advantages and disadvantages for every type of life insurance and that...

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Pros and Cons of Whole Life Insurance Policies

Pros and Cons of Whole Life Insurance Policies

The most popular and well-established permanent life insurance policy on the market is the whole life insurance policy.  However, most life insurance professionals recommend term life insurance as the better option.  Like most financial decisions, each situation is...

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Does Whole Life Insurance Expire?

Does Whole Life Insurance Expire?

Purchasing a whole life insurance policy is important to consider when developing a plan to provide for your loved ones financial security in the event of your death.  Whole life insurance, unlike term life insurance, is a type of permanent life insurance and is also...

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The Difference between Whole Life and Term Insurance

The Difference between Whole Life and Term Insurance

Most people understand that purchasing life insurance is a means to provide a financial safety net for your surviving loved ones when you have passed away and are no longer there to look over them. And many know that just paying for funeral costs could lead to...

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What is Universal Life Insurance and How Does it Work?

What is Universal Life Insurance and How Does it Work?

Anytime individuals search for permanent life insurance, they usually think only of Whole Life insurance; nevertheless, another kind of permanent coverage is Universal Life (UL). UL is less costly than Whole Life and, when set up correctly, will protect you for a...

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Do I need Life Insurance for a Stay-at-Home Parent?

Do I need Life Insurance for a Stay-at-Home Parent?

We all know that the primary purpose of life insurance is to provide financial support for surviving loved ones. Even in cases where there is no one left behind, it makes sense that a person makes financial arrangements for their burial using life insurance. There...

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Life Insurance Required by Divorce Decree

Life Insurance Required by Divorce Decree

Photo credit: http://www.weisspaarz.com/ Divorce decrees involving an ex-spouse to pay alimony or child support will usually require a life insurance policy in most states. Each decree is different depending on the marriage, lawyer, and the state. Regardless of the...

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