Permanent Life Insurance FAQ

Q.What Is Permanent Life Insurance?

Permanent life insurance is a form of life insurance that covers you for life and offers your family protection from financial hardship. Additionally, a permanent life insurance policy has a cash value accumulation feature that grows steadily over time. In some cases, you can borrow or withdraw a portion of the cash value and use those funds for living expenses or to pay your premiums. Permanent life insurance policies also offer a number of tax advantages.

Q.Is Permanent Life Insurance an Asset?

People who are evaluating life insurance policies often ask, “Is permanent life insurance a good investment?” The answer depends on an individual's needs and goals. Some people prefer to invest in term life insurance and invest the difference they would have paid into a permanent life insurance policy in other ways.

Others like the fact that permanent life insurance is designed to be an asset that grows in value. You can use whole life or universal life insurance as a long term investment vehicle that provides continuous, stable growth along with tax advantages and a death benefit. A permanent life insurance policy provides liquidity, as you can borrow against it or withdraw funds.

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