Permanent Life
Insurance with Lifetime Protection
Live with confidence knowing your loved ones will be financially secure in the unfortunate event of your passing.
Why Do Americans Need Life Insurance?
Life Insurance provides financial security for the people who depend on you. If something unexpected happens, it helps ensure your family can maintain their lifestyle and avoid financial hardship.
A Life Insurance policy can help:
- Replace lost income
- Pay off a mortgage or personal debts
- Cover funeral and final expenses
- Fund children’s education
- Support long-term estate and legacy planning
If your spouse, children, or business partners rely on you financially, Life Insurance is one of the most important protections you can put in place.
What is Permanent Life Insurance?
Permanent Life Insurance provides lifetime coverage, as long as premiums are paid. Unlike Term Life Insurance, it does not expire after a specific number of years.
In addition to a guaranteed death benefit, most permanent policies build cash value over time. This cash value grows tax-deferred and may be accessed through policy loans or withdrawals (subject to policy terms and potential tax implications).
Permanent Life Insurance is often used for:
- Lifetime family protection
- Estate planning strategies
- Wealth transfer
- Business continuation planning
- Supplementing retirement income
Can I name multiple beneficiaries?
Yes. You may:
- Name multiple primary beneficiaries
- Assign specific percentages
- Designate contingent beneficiaries
- Name a trust, estate, or charity
This flexibility allows you to structure your policy according to your personal and financial goals.
How much Life Insurance do I need?
Your ideal coverage amount depends on:
- Your annual income
- Outstanding debts and mortgage balance
- Future education costs
- Final expenses
- Long-term financial goals
Many financial professionals recommend coverage equal to 10–15 times your annual income, but the right amount depends on your unique situation.
What affects Life Insurance rates?
Premiums are based on:
- Age
- Health and medical history
- Smoking status
- Lifestyle and occupation
- Coverage amount
- Type of policy selected
Generally, younger and healthier applicants qualify for lower premiums, which is why many advisors recommend purchasing coverage early.
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Types of Permanent Life Insurance in the U.S.
Permanent life insurance comes in several forms, each designed to provide lifelong protection while building cash value in different ways. Understanding how these policy types work helps you choose the structure that best fits your long‑term financial goals.
Whole Life Insurance
Whole Life provides guaranteed lifetime coverage, fixed premiums, and guaranteed cash value growth. Some policies may pay dividends depending on the insurer’s performance.
Universal Life Insurance (UL)
Universal Life offers flexible premiums and adjustable death benefits. Cash value grows based on current interest rates set by the insurer.
Indexed Universal Life (IUL)
Indexed UL ties cash value growth to a market index (such as the S&P 500), offering growth potential with downside protection against market losses (subject to caps and participation rates).
Variable Universal Life (VUL)
Variable UL allows you to invest your cash value in market-based sub-accounts. It offers higher growth potential, but investment performance directly impacts cash value and may carry more risk.
How to Save Money on Life Insurance?
Lowering the cost of life insurance often comes down to timing, health, and smart comparison shopping. A few strategic choices can make coverage far more affordable over the long run.
Apply Sooner Rather Than Later
Rates increase with age. Locking in coverage early can significantly reduce long-term costs.
Maintain a Healthy Lifestyle
Fully underwritten policies often provide better pricing for healthy applicants.
Compare Multiple Carriers
Rates vary by insurer. Comparing options helps ensure you receive competitive pricing.
Review Your Policy Regularly
Life changes — your coverage should too.
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