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Permanent Life
MetLife has a nice concise description:
If you value added security, flexibility, cash value and lifetime coverage, some form of Permanent Life Insurance may be right for you.
Permanent Life Basics
â¢Protection for your whole life, as long as sufficient premiums are paid
â¢Can build equity in the form of a cash value
â¢Offers flexibility and many options to choose from
â¢Initially higher premiums than Term, but generally more cost-effective in the long run
And All State goes into more detail:
Permanent Life Insurance
A permanent life insurance policy is just that-permanent. It is designed to last your lifetime with regular, annual premium payments. These premiums are typically higher than term life insurance premiums, but that is because you are also accumulating cash value in your policy in addition to death benefit protection.
The Details about Permanent Life Insurance
When you buy permanent life insurance, one of the first choices you make is how much coverage to get. You can multiply your annual income by seven for a quick estimate, or use our more exact life insurance calculator to figure this out.
Permanent life insurance also builds cash value you can tap into. With permanent life insurance, part of your premium pays the cost of the death benefit, and part is set aside in an account that' attached to the policy. That account grows in value over time, and you can access that cash as you need it.
Why Permanent Life Insurance is a Good Idea
Permanent life insurance means you and your family can be protected for a lifetime. The cash death benefit can be used for anything, from paying off debts to leaving financial security behind for your heirs.
And, the premiums on your permanent life insurance policy could also have tax-deferred cash value. That's something you can put to work for you while you're still alive if you need it. It can help with the costs of education, retirement needs, or emergencies.
Factors to Consider
Permanent insurance could be the right choice for you if:
â¢You don't want to worry about your coverage expiring
â¢You want a policy that can provide cash value that offers certain tax advantages
â¢You may need access to your cash value for needs like college tuition or retirement income
Only $80
9/16/2009, Moniker
MetLife has a nice concise description:
If you value added security, flexibility, cash value and lifetime coverage, some form of Permanent Life Insurance may be right for you.
Permanent Life Basics
â¢Protection for your whole life, as long as sufficient premiums are paid
â¢Can build equity in the form of a cash value
â¢Offers flexibility and many options to choose from
â¢Initially higher premiums than Term, but generally more cost-effective in the long run
And All State goes into more detail:
Permanent Life Insurance
A permanent life insurance policy is just that-permanent. It is designed to last your lifetime with regular, annual premium payments. These premiums are typically higher than term life insurance premiums, but that is because you are also accumulating cash value in your policy in addition to death benefit protection.
The Details about Permanent Life Insurance
When you buy permanent life insurance, one of the first choices you make is how much coverage to get. You can multiply your annual income by seven for a quick estimate, or use our more exact life insurance calculator to figure this out.
Permanent life insurance also builds cash value you can tap into. With permanent life insurance, part of your premium pays the cost of the death benefit, and part is set aside in an account that' attached to the policy. That account grows in value over time, and you can access that cash as you need it.
Why Permanent Life Insurance is a Good Idea
Permanent life insurance means you and your family can be protected for a lifetime. The cash death benefit can be used for anything, from paying off debts to leaving financial security behind for your heirs.
And, the premiums on your permanent life insurance policy could also have tax-deferred cash value. That's something you can put to work for you while you're still alive if you need it. It can help with the costs of education, retirement needs, or emergencies.
Factors to Consider
Permanent insurance could be the right choice for you if:
â¢You don't want to worry about your coverage expiring
â¢You want a policy that can provide cash value that offers certain tax advantages
â¢You may need access to your cash value for needs like college tuition or retirement income
Only $80
9/16/2009, Moniker
