subject: Benefits Of Permanent Life Insurance [print this page] Permanent life insurance is insurance policy ideal for those who dont want to feel like investing in term life insurance policy.
This is often due to the fact that term life insurance, at times, results in no payment if nothing happens in the stipulated period of insurance. For example; you pay and ensure your car for a stipulated period but if your car doesnt meet any accident and get damaged in this given period, you wont get any money back.
It is in this context that the importance of permanent life insurance comes to the fore. As the name suggests, permanent insurance continues for the full duration of a lifetime and gives guarantee of payment. One can borrow against some permanent life insurance policy as long as one is ready to pay premium on time.
However, while buying permanent life insurance you need to analyze your need in detail. It needs regular investment and if you cant afford that, it is better for you to go for term life insurance policy. Term life insurance is also better of you are looking for coverage in shorter period of time.
For example; if your retirement is only four or five years ago and you are expecting to get a large sum of money at that time, its better for you to go for term life insurance policy.
Permanent insurance is best suited for you if you want to keep your life insurance of a very long time. It is also advantageous for those who want tax-deferment on their income.
Permanent insurance will provide a huge sum of money to the appointed beneficiary once you die.
There are various kinds of permanent life insurance policies available in the market. Some of them are traditional whole life insurance, universal life insurance, and variable life insurance. Choose the one that covers all your risks and specific needs of your family.
Click on the following link to contact us for affordable and comprehensive permanent life insurance service. Our other comprehensive insurance services include life insurance, automobile insurance, homeowner insurance, boat insurance, ocean marine insurance, construction insurance, retirement planning insurance, umbrella insurance.
by: sid tivatne
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