Permanent Life Insurance Information

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Permanent Life Insurance FAQs

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Permanent Life Insurance FAQs

From Insurance Lounge

  • What makes Permanent Life Insurance a good long-term solution?

    Permanent life insurance provides life-long insurance protection, provided premiums are paid, or in the case of some policies, provided the policy remains in force. With few exceptions, once you have been approved for the coverage, your policy cannot be canceled by the carrier. Regardless of your health, the insurance will remain in force. Despite... More

  • What makes Permanent Life less expensive than Term Life in the long run?

    Despite higher initial premiums, permanent life insurance can actually be less expensive than term in the long run. Some permanent policies are eligible for dividends, if and when they are declared by the insurance company. Many companies offer the option to apply current and accumulated dividend values towards payment of all or part of the... More

  • How does Permanent Life eliminate the problem of future insurability?

    Permanent life insurance can eliminate the problem of future insurability. It does not expire after a certain period of time. It does not need to be renewed. Also, some policies contain guaranteed purchase options, which allow you to buy additional coverage at specified times, regardless of your health.

  • Does Permanent Life build cash value?

    Yes. Permanent life insurance builds cash value. This amount — part of which is guaranteed under many policies — can be used in the future for any purpose you wish. If you like, you can borrow cash value for a down payment on a home, to help pay for your children’s education or to provide supplemental income for your retirement... More

  • What is the Value of Permanent Life Insurance?

    Permanent life insurance offers protection that will last your entire life, rather than for a temporary period of time. In addition to life long protection, permanent life insurance offers living benefits that can help you during your lifetime. Unlike term insurance, permanent insurance is a value builder. Both guaranteed cash values and... More

  • What is the difference between Term and Permanent Life Insurance?

    Permanent life insurance offers protection that will last your entire life, rather than for a temporary period of time. In addition to life long protection, permanent life insurance offers living benefits that can help you during your lifetime. Term insurance is probably the most basic form of life insurance. It provides affordable protection often... More