What is Permanent Life Insurance?
Permanent life insurance provides lifetime insurance protection, but the premiums must be paid on time. Most permanent policies offer a cash accumulation account. This component, causes premiums to be higher than those of term insurance but will allow the policy to have permanent coverage.
Whole life insurance provides lifetime protection, for which you pay a predetermined premium. Cash values usually have a minimum guaranteed rate of interest and the death benefit is a fixed amount. Whole life insurance usually more expensive life-insurance product available.
Universal life insurance is designed to provide flexibility in defining your coverage. Premiums can be adjusted if expenses are reduced.
Here are the main characteristics of permanent life insurance:
- Permanent insurance protection.
- More expensive to own.
- Builds cash value.
- Loans are permitted against the policy. (not recamended)
- Favorable tax treatment of policy earnings.
- Level premiums.
Why do you need Life Insurance?
- To Provide financial hardship in case of your death
- To Pay off funeral expenses
- To Pay off any dept
- To Pay for your children's collage education
Kempf & Co 8195 166th Ave NE Suite 100
Redmond, WA 98052
(425)-881-8573
This information is intended for use by residents of OR, WA, CA, CO, NM, TX, IA, FL. Securities related services may not be provided to individuals residing in any state not listed above.