Permanent Life Insurance

Permanent life insurance offers coverage after the insured passes. Much like whole life insurance, it does nor run out so long as you pay your fixed premiums throughout your life. It offers several benefits, such as mortgage protection. With this, the money from your permanent insurance can be used to pay off the mortgage and any other debts. Also, once you have retired, you will have access to your cash values; however, the worth of your death benefits will decrease.

In the event that your company has been continually successful up to this point, it may provide a dividend to its customers, but this is not a guarantee. The dividend can be in the form of cash, which can be used to purchase another policy or lower your premiums. Additionally, when your beneficiaries are set to receive your insurance money, it will not be taxed.