Permanent life insurance is
limited my any amount of time like a term life
insurance policy. Instead if you keep paying the
premiums, you will still be covered. Permanent life
insurance also takes a part of your premium payment
and puts it into a separate account that you can
access while you are alive.
Below is a breakdown of the
different types of permanent life insurance. If you
have any questions, please request a consultation
and one of our agents will contact you at that time.
| Type
of Life Insurance |
Pros |
Cons |
|
|
1. Creates savings and can pay for
itself if developed properly
2. Level premiums |
1. Insurance company decides where your
premium money is invested 2. Not
flexible at all. |
|
|
1. You can increase or or decrease value
of death benefit
2. Premium payments are also flexible
3. You can withdraw money from cash
value while you are alive. |
1. Small returns on insurance company
investments can lead to paying more
premiums. 2. Policy may lapse if you
make too small of payments for a period
of time. |
|
|
1. You choose where premiums are
invested. 2. Earnings can be put
toward paying premiums. |
1. Investments with poor returns, leads
to higher premium payments. 2. You
cannot take out any of the cash value.
|
|
Variable-Universal Life
|
1. You can increase or or decrease value
of death benefit
2. You can withdraw money from cash
value while you are alive. |
1. Cost more than
|
Conclusion: Based on what is
above, we recommend that you speak with one of our
financial professionals to consult you in deciding
the best life insurance for your situation. Please
request a quote below or request a consultation and
we will get back to you the time you want with the
answers you need.
|
