Permanent insurance provides lifelong protection. As long as you pay the premiums, and don’t take loans, withdrawals or surrenders against the policy, your beneficiaries will receive the full-face amount if you die.
Because it is designed to last a lifetime, permanent life insurance accumulates cash value, and is priced for you to keep over a long period of time.
It’s impossible to say which type of life insurance is better because the kind of coverage that’s right for you depends on your unique circumstances and financial goals. Some types of permanent insurance are: Universal Life, Whole Life, Survivorship, Hybrid Life Insurance and Variable Life.
The Consumer’s Guide to Life and Health Insurance can serve as a first step to help you find the right policies for you. But remember, the best way to figure out the right coverage to preserve the way you work, live, and play is with your qualified and licensed Tracy-Driscoll life insurance professional.
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