For some people, knowing that they will always have insurance protection in place, no matter when they die, is all the reason they need to buy permanent life insurance. What is permanent life insurance and what can you expect from such a policy, you might ask? There are many benefits that one can derive from owning a permanent insurance policy. Let’s explore them below:

First off, a permanent life insurance policy will come in the form of either universal or whole life insurance and it will cover the insured permanently, or until they reach 100 years of age or they die–whichever comes first. This is unlike term life insurance which only protects people and their beneficiaries if they die within the term they chose. For this reason, many people who buy term life insurance end up renewing their policies if they survive their term, which can mean they end up spending more for premiums in their second term because they’re just that much older and may have acquired some sort of health condition since they first bought term life. While permanent policies do tend to cost more than term life, they do not need to be renewed and so, at least with a whole life policy, the price will stay consistent. What’s more is that term life can’t be renewed once you’ve turned 80, while you will still be protected with permanent policies.

There are other benefits that come with owning a permanent insurance policy and they include the ability to collect investments within your policy. When you die, these along with the face value of your policy can be paid out to your beneficiaries.

If you’re still unsure as to whether or not permanent life insurance is right for you, determine exactly what it is that you want insurance for. If you’re only looking to protect your family until your children are adults, a term life policy might be better suited. But, if you want the peace of mind that comes from knowing you will always have protection, just in case, then permanent is the way to go.

Still can’t decide? Contact our team of agents at