What is Permanent
Life Insurance?
Types of Life Insurance
under Permanent
When you buy permanent life insurance, you are buying coverage for a lifetime. There are two major types of life insurance, and they are term and permanent life insurance. All the other policies that you will come across will fall under either one of these two. That’s not too bad now is it? :) So how can you tell the difference between the two? Here is a simple way to know the difference. A permanent policy will not expire (as long as you keep paying your premiums) and a term policy will eventually expire after a certain amount of time. So with permanent life insurance, your policy will remain in place for all your natural life as long as you keep paying your premiums. One feature that all permanent policies have is some sort of savings element included with them. So basically, a portion of the premiums you pay will go into an account and collect interest and grow over time.
Permanent Life Insurance Options
So now let's go over the two main types of life insurance under permanent life, and they are:
Browse through the links below to get more details on each one of the different types of life insurance policies!
The Advantages of Whole Life Insurance
So how do you define whole life insurance? What is it and what are the advantages to you if you purchase? What the heck is cash value anyway? Read more about the advantages of whole life insurance.
Whole Life Insurance Rates
Disadvantages of Whole life insurance
Here you’ll find information on the disadvantages of whole life insurance;yes... rates will be higher…. and do you really need lifetime coverage? Also, will you be able to afford it? Get the big picture by reading the article on whole life insurance rates.
Whole Life Insurance Advice- Don’t buy it?
Should you forget about whole life and just buy term and invest the difference? Is whole life insurance just a waste of your money that you can invest elsewhere? Find out more in this 2 part article Whole life insurance advice (part 1).
Whole Life Insurance Advice
This is part 2 of the whole buy term and invest the difference debate. What good will it do you to choose whole life over term? If you don’t buy it will you really invest the money that you’ll be saving? Learn more about it here on Whole life insurance advice (part 2) which is actually titled Whole vs Term life insurance.
Types of Whole Life Policies
There are 3 basic whole life policies and one of them is known as a continuous premium whole life policy. This type of policy is just what it sounds like! It has a continuous premium throughout your lifetime. If you're interested in paying off your premiums before a certain age you might want to look into Limited Pay whole life. There is also the Single Premium whole life policy which you can just pay in one shot.
What is Universal Life Insurance
What is Universal Life Insurance and what does it offer as opposed to something else? Universal life is sort of like a permanent life insurance hybrid.... so to speak. Universal life is known as being a more flexible policy which leads to more benefits for you! You have more options when it comes to your premiums and death benefit amount. Read more to get the big picture.
Life Insurance Universal
How can universal benefit you?
One of the good things about universal life insurance is that the policies provide some surprising benefits that can really help you in the long run! Read up on some of the perks.
Understanding Universal Life Insurance
About the Premium structure
Universal life insurance is known for it’s flexibility. Learn more about the premiums you’ll pay and your options of paying the least to the most to maximize the amount of cash value in your universal life policy.
Life Insurance Universal Policies
Death Benefit Options
There are two main death benefit options when your purchase Universal Life Insurance. You can choose a level death benefit or an increasing death benefit. The level will stay the same and the increasing will increase over time. Learn more about each one and whether one is better than the other for your particular situation.
You should always consult with a licensed agent to assist you in choosing an affordable life insurance policy that will suit your individual needs. Contact an agent today to help you find a permanent life insurance policy!
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