The Basics: Permanent Life Insurance

Posted on Tuesday, Jul 03, 2012

The Basics: Permanent Life InsuranceChoosing the right life insurance is no easy task. It can be confusing, even overwhelming, and the language can seem convoluted. There is no easy guide to understanding life insurance and deciding which policy is best for you and your family. Luckily, the specialists at LifeQuote know a thing or two about insurance and can help steer you in the right direction. LifeQuote representatives will help guide you in deciding what is right for you. Will you benefit most from a term life policy or permanent life insurance?

Permanent life insurance differs from term life insurance for a variety of reasons. First, it lasts a lifetime; it never expires as long as the policyholder continues to pay the premium. Secondly, a permanent policy accumulates cash value at a minimum interest rate. The premiums for these policies typically remain at or around the same level. It also provides a death benefit to the beneficiary no matter how old the permanent policy is. A permanent policy is a popular life insurance choice because it provides financial security for your family during and after your life.

Some people reject permanent life insurance because the policies are higher when compared to term life insurance. Permanent life insurance is a great option if you plan on keeping your insurance for a long time. For example, if a 30 year old man buys a term life policy for 20 years and falls ill when he’s 50, he could be deemed an insurance risk and have to pay a significantly higher premium to renew his policy. If that same man bought a permanent policy his premiums would stay at or around the same because he does not have to prove insurability.

Another advantage of permanent life insurance is that you can build up enough cash to pay off your premiums. The cash you accumulate in your permanent policy is always available for you in case of an emergency, or if you need money for retirement, or to fund your child’s education. Permanent life insurance may not be the solution for everyone, but it definitely has its advantages.

To find out more about permanent life insurance, contact a Lifequote representative today. The specialists at LifeQuote have over 25 years of experience helping clients find the best life insurance coverage from only top rated life insurance companies. Find the cheapest life insurance by calling (800) 521-7873. Inexpensive life insurance is just a click away at

LifeQuote Holdings, Inc., is a pioneer in online life insurance brokerage. The firm was one of the first to offer consumers free life insurance quotes via telephone in the 1980’s, prior to developing the Internet business model. The executive team is made up of life insurance and retirement plan veterans, as well as media/marketing specialists, and experts in web design, development, and search engine optimization.

The author of this LifeQuote Blog post is not a licensed life insurance agent or broker.

I need a Quote