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Permanent Life Insurance Information

Permanent Life Insurance
  • Provides Lifelong protection - Permanent insurance is designed to last your lifetime as long as you pay your premiums. Upon your death, your beneficiaries receive a lump-sum payment known as the death benefit. It can be used to help cover expenses or ensure loved ones are able to help continue the lifestyle and reach the goals you had always hoped for them.
  • Builds cash value - Unlike term life insurance, permanent life insurance can accumulate cash value over time. Keep in mind that taking out a loan or withdrawal from your cash value may affect the final benefit amount that your loved ones would receive.

Permanent Life Insurance Products

Universal Life

  • Gives you lifelong protection and premium payment flexibility.
  • Your cash value accumulates tax-deferred.
  • Designed to offer lifetime protection.
  • Typically more expensive than term life insurance.
  • Flexibility to change your plan and payments as your needs change.
  • Access to cash value in case you need it.

Customers who can benefit most from this type of permanent insurance:

  • Parents who want to protect their famlies with a death benefit, help cover estate taxes, and leave an inheritance.
  • Investors who have a need for a death benefit and may benefit from the cash value accumulation.
  • Parents of young children who want to ensure their children's future insurability.
  • Young adults who are looking for a starter policy that can possibly be coupled with term life insurance.

Whole Life

  •  Predictable insurance that's meant to last your lifetime.
  • Designed to provide lifelong protection with a smaller benefit amount.
  • Affordable permanent life insurance option.
  • Your payment amounts never change.
  • Cash value earns interest at a predictable, fixed rate.

Who should consider purchasing a Whole Life insurance policy?

  •  A Whole life policy may be best for someone who no longer needs a lot of coverage and wants the certainty of a product with a guaranteed death benefit, premiums and cash value. A whole life policy offers beneficiaries a smaller amount of money to cover expenses such as funeral expenses, which can be as much as $10,000, and other expenses you may leave behind.

Permanent Life Insurance FAQ

  1. Can I access the cash value of my permanent policy? Yes. Just keep in mind that taking a loan or withdrawal from your policy could affect the benefit amount your beneficiaries would receive should you die.
  2. Will my beneficiary have to pay taxes on the death benefit he or she receives? No. Benefit payments, known as death benefit proceeds, are generally exempt from federal tax laws.





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