Permanent Life

Permanent Life Insurance

Permanent life insurance policies include whole life, traditional whole life,
universal life, variable life and many more hybrid-style life insurance policies.
Build and protect your financial future. A permanent life insurance policy can be used for generational wealth transfer, estate planning and a guaranteed benefit amount for your beneficiaries.

Like all permanent life insurance policies, whole life provides lifelong coverage and includes an investment component known as the policy’s cash value. The cash value grows slowly, tax-deferred, meaning you won’t pay taxes on its gains while they’re accumulating.

Providing Lifelong Coverage

You can borrow money against the account or surrender the policy for the cash. But if you don’t repay policy loans with interest, you’ll reduce your death benefit, and if you surrender the policy, you’ll no longer have coverage.

Like all permanent life insurance policies, whole life provides lifelong coverage and includes an investment component.

Although it’s more complicated than term life insurance, whole life is the most straightforward form of permanent life insurance.

Here’s why:

• The premium remains the same for as long as you live

• The death benefit is guaranteed

• The cash value account grows at a guaranteed rate

Some whole life policies can also earn annual dividends, a portion of the insurer’s financial surplus. You can take the dividends in cash, leave them on deposit to earn interest or use them to decrease your premium, repay policy loans or buy additional coverage. Dividends are not guaranteed.

Call one of our experts today to see how a permanent life insurance policy can protect you and your loved ones.

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