Permanent Insurance

Permanent life insurance is distinguished from term insurance in several ways. While term insurance provides protection only for a specific period of time, permanent insurance can provide protection for your entire lifetime, or in certain instances, up to a specific. In addition, permanent life insurance policies can build cash value, money that you can borrow against and, in some instances, withdraw to help meet future goals, such as paying for a child's college education.

Permanent life insurance policies enjoy favorable tax treatment. Cash value growth is generally on a tax-deferred basis, meaning that you pay no taxes on any earnings in the policy so long as the policy remains in force. And money can be taken out of the policy without having to pay taxes, since policy loans generally are not considered taxable income, and withdrawals generally can be taken up to the amount of premiums paid without being taxed.

The two general types of permanent life insurance policies are Whole Life, a dividend-paying policy,* and Universal Life, flexible policy.
*Dividends are not guaranteed.

To obtain more information and/or a quote on this type of insurance, click our Quotes link, and one of our agents will contact you soon.

All applicants are subject to insurance company underwriting guidelines and qualifications.