Permanent Life Insurance is designed to be there whenever your time is up. 

Permanent life insurance products, although more expensive offer level costs for as long as you own the policy. 

Some permanent products also over what’s called a “cash surrender value”. Which is like a forced savings account. Simply by paying your premium, your cash surrender value will grow over time, which you can access at any time TAX-FREE. 

 

 

Term to 100 is easiest to understand. You have a specified amount of coverage (let’s say $1,000,000) with level cost so you never have to worry about increased rates. What you purchase is what you get and it lasts to age 100. 

 

The second type of permanent life insurance is whole life insurance. Just like Term to 100, whole life has a level cost to own this type of policy. The difference is whole life insurance has a cash surrender value (CSV). CSV is a cash account that increases guaranteed over time and is an asset you have access to while you are alive.  

 

The last is Universal Life which has many options available, these policies can be adjusted (to some degree) to benefit the client. They have a cash value to them as well, the difference Universal Life cans a variable to their investment vehicles, which means you could make more money, or you could lose money, depending on how the investment performs. 

 

When buying whole life insurance there are always a few factors that come in to play to which company has the best term insurance. 

 

In short, no one carrier is the best. It becomes dependent on your situation. Line up your insurance needs with the right carrier. 

 

For help on finding the best coverage for you click the link HERE for your FREE Quote and we would be happy to help!