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Permanent Life Insurance Offers Protection And Possible Investment Options

The world of whole life insurance has changed a lot in recent years. Policyholders have more options than ever - which is great news, so long as you put a little time into learning the ins and outs of the game.

This page:

Explains exactly how a whole life insurance policy works.

Makes a brief comparison between the major policy types.

Links to more information on each policy type, as well as an explanation of the "cash-value" option.

Life Insurance for as Little as $15/Month?

Premiums can vary by as much as 50% for the same coverage and options, so it pays to get quotes from as many reputable insurers as possible.

With our partner USAA, you can find the ideal combination of premium price and top-notch service that you'd expect from a top-rated carrier.

USAA, normally only offers most of its services to military members, veterans, and their families, however, life insurance is the exception. Now, anyone can get the great pricing and customer service for which the company is known and loved for by their customers.

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The Permanent Life Insurance "Concept"

Whatever you call it, permanent or cash-value or whole life insurance is coverage for life. With this type of policy, your coverage will never expire and will never need to be renewed. The amount for which you are insured, the death benefit, will be paid to your beneficiaries at the time of your death - even if you live past 100.

Permanent life insurance is often also called "cash-value" insurance, which refers to an additional savings feature that increases the value of a policy.

In fact, "whole life insurance" is actually just one type of permanent policy, although many people use the term to describe any life insurance policy that never expires. Variable and universal coverage are the other major permanent policies. Unless you're certain that it's whole life insurance you want, it's wise to consider all three options.

Let's review how permanent coverage works, then we'll help you decide policy type is right for you.

Choosing a permanent life insurance policy can be tricky. We recommend that you use one of our partner carriers to compare various insurers and to get more advice about what policy to select.

Comparing The Main Types Of Policies

Permanent life insurance used to be a pretty standard product. This is no longer the case. Variations on the standard permanent life insurance policy have grown more popular in recent years. Increased consumer knowledge in the areas of life insurance and investing have resulted in demands to reshape the cash value portion of these policies.

The new alternatives allow customers more freedom and flexibility in terms of adjusting premium payments and controlling the investment portfolio. Each type has its own advantages and disadvantages, which should be investigated separately before making your final purchasing decision. Click on any policy type for more information.

Standard whole life insurance is the most basic of these options. Your insurer will totally manage the way the cash-value portion of your policy is invested.

A universal policy gives you a little more control. The invested portion is tied to shorter term interest rates, and the potential for profit (and loss!) grows.

A variable policy offers the most flexibility. The policyholder has a great deal of control over how the cash-value portion is invested. This type of policy should only be undertaken by those with the ability and inclination to closely manage their policy portfolios.

Not sure which one's right for you? Start by learning more about whole life insurance, then make your way through the others. Being well-informed never hurts!

Or, get some professional advice right off the bat! one of our partner carriers is a highly recommended online broker that will put you in touch with licensed agents in your area specializing in affordable permanent life insurance.

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