What is Life Insurance Permanent Whole Life?
It’s one of the two basic types of life insurance that include Term and Permanent.
Permanent whole life is life insurance protection that provides coverage for your entire life.
You pay a premium each month or year to the insurance company, and in return, the insurance company promises to pay a death benefit to the person(s) (beneficiary) you choose to receive the benefit, when you pass away.
Learn more about permanent whole life insurance plans.
It’s one of the two basic types of life insurance that include Term and Permanent.
Permanent whole life is life insurance protection that provides coverage for your entire life.
You pay a premium each month or year to the insurance company, and in return, the insurance company promises to pay a death benefit to the person(s) (beneficiary) you choose to receive the benefit, when you pass away.
- Permanent life insurance policies usually have the following features:
- Guaranteed lifetime protection as long as you pay your premiums.
- Guaranteed level rates that remain the same each year.
- Build up cash value inside your life insurance policy over time.
- Loans available from your cash value.
- The amount of life insurance provided by your policy remains level.
Learn more about permanent whole life insurance plans.
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