What is a permanent life insurance policy – Permanent life insurance is a life insurance policy that remains in effect for a persons entire life so long as monthly premiums and any other contractual obligations between the life insurance company and the policy holder are met. Permanent life insurance covers you for the rest of your life and pays out regardless of when you die as long as you ve paid your premiums.
These types of policies also include a savings account.
What is a permanent life insurance policy – Permanent life insurance refers to a set of life insurance policies that provide coverage for your entire lifespan so long as premiums are paid. If the policy is in place when you die it will pay a death benefit whether you live to be 65 or 105. That s what makes it different from the other main type of policy term life insurance. What is a permanent life insurance policy
So whether you pass away immediately after purchasing coverage or 50 years later your beneficiaries would receive a death benefit. Permanent life insurance refers to coverage that never expires unlike term life insurance and combines a death benefit with a savings component. Permanent life insurance which includes whole life insurance is one of the options on the table and it s exactly what its name suggests. What is a permanent life insurance policy
The two primary types of permanent life insurance. What is a permanent life insurance policy