» Permanent
Life Insurance Your permanent life insurance policy will
provide a welcome level of financial security
for your family, or other beneficiaries, in the
event of your death. Permanent Life Insurance
provides coverage for your entire life, up to
age 100, for you and your family. Coverage can
last for the rest of your life, and the premiums
stay fixed regardless of age, health, or
lifestyle changes. Over time, it may be the
least expensive form of life insurance since
premiums are fixed and it builds cash value
which accumulates on a tax-deferred basis.
» Term
Life Insurance Term life insurance is coverage that lasts for
the number of years you elect, i.e., 10 years,
20 years, etc. Because the coverage lasts for a
shorter, fixed amount of time, Term life
insurance is usually less expensive than
permanent life insurance. Most term life
insurance policies can be converted to permanent
life policies, with no additional underwriting
needed when permanent life insurance protection
is more appropriate.
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