What Is Permanent Life Insurance

Examine Types Of Permanent Life Policies

• What Is Permanent Life Insurance?

  A permanent policy is one which you can keep for as long as you want to keep it even if it is for the rest of your life...even up until age 100. Permanent policies usually have a cash value that you can fall back on in the future if you need to.

  Some permanent life policies pay a dividend in addition to the cash value if the company with which you have your policy does a good job with their investments and are good at keeping their expenses down.

• Different Types Of Permanent Policies

  There are many different types of permanent policies. You can buy a whole life policy in it's traditional form or you can buy modified versions of the whole life policy.

  You can buy a universal life insurance policy which has a term insurance base and is hooked up to a savings plan or you may elect to invest into a variable universal life policy. This plan is whole life based and is hooked up to an investment plan. A special license other than a life insurance agents license is required for the agent to sell variable life insurance.

• Recommended Types

  There are many opinions as to what is the best permanent life plan to buy. The life insurance companies also get very creative when designing a modified whole life plan. Some of them have a pretty low premium and at the same time have a break even point where cash values plus dividends equal total premium paid. This is the type I like and own.

  Keep in mind that dividends are not guaranteed.

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