Permanent Life Insurance

Permanent Life insurance is often the foundation upon which many comprehensive financial strategies are built. That's because, at its core, permanent whole life insurance helps you fulfill your promises to the people you care about by delivering a financial resource when it's needed the most.

A thorough understanding of your family's current and future financial needs is key when determining how much and what type of life insurance is appropriate. A sufficient amount of coverage is essential to ensure your family's financial future is not left to chance. Once you've determined the appropriate amount, then you need to decide what type of life insurance is right for you. 

Different kinds of Whole Life Permanent Insurance

Permanent Life Insurance products can have many different features and riders as well as different types of policies.

Most Permanent life insurance policies are payable until age 100, here is some basic information about Permanent  Life Insurance:

Standard Paid up at age 100 Life Insurance requires a premium payment to age 100, making it the lowest premium permanent life insurance policy of all the products. Paid up at age 100 life insurance is a good choice for family income protection. This kind of whole life insurance policy may sometimes be increased (subject to underwriting) or decreased as your needs change.

Paid up at age 65 Life Insurance is ideal for both personal and business whole life insurance planning because it is guaranteed to be fully paid for at age 65, a typical retirement age. Individuals might use the cash value of this type of whole life insurance policy to supplement their retirement income.¹ In a business market it might be used to protect against financial loss due to the death of an owner or key employee, or it can fund an employee benefits package. Like the standard policy, a paid up at 65 life insurance policy may be increased (subject to underwriting) or decreased as your needs change.

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10 pay life Life Insurance is guaranteed to be fully paid for after 10 annual premiums. 10 pay life insurance is an excellent choice when you need a guaranteed limited premium payment period for your whole life insurance. In personal planning scenarios, 10 pay whole life insurance is ideal for supplementing retirement income because you can take advantage of the guaranteed limited premium payment period while your income is high. It can also be useful for providing a gift to a favorite charity. In the business market it is a good choice for funding a non-qualified, selective deferred compensation plan, providing an employer with "Golden Handcuffs" to help retain top talent.

High Early Cash Value Life Insurance is designed specifically as a "balance sheet" product to provide asset protection for the business market. It positions the cash value in the policy as an asset that can be carried on the business balance sheet. Generally a HECV life insurance policy's cash value will be nearly equal to the base policy standard premiums paid at the end of the first policy year. It is usually paid for by age 85. Like other types of whole life insurance a HECV life insurance policy may be increased (subject to underwriting) or decreased as your needs change.

Please call us today for more information about Permanent Whole Life Insurance at 866-392-INFO (4636)

1 Distributions under your policy (including cash dividends and partial/full surrenders) are not subject to taxation up to the amount paid into the policy(your cost basis). If the policy is a Modified Endowment Contract, policy loans and/or distributions are taxable to the extent of gain and are subject to a 10% tax penalty. Access to cash values through borrowing or partial surrenders can reduce the policy's cash value and death benefit, increase the chance the policy will lapse, and may result in a tax liability if the policy terminates before the death of the insured.