If you think that term life insurance does not give you enough coverage, consider the permanent life insurance. Different from the term life, permanent life insurance gives lifetime coverage – until the death of the insured. It also offers some additional benefits:

1. The premium is usually fixed
2. It builds a cash value, i.e. you may borrow against the policy, or make withdrawals to meet future goals. (Conditions apply)
3. It has favorable tax treatment. When the cash value grows, the earning is not taxable as long as the policy is in force. The cash value might also be drawn from the policy tax-free under certain circumstances.

There are different types of permanent life insurance to choose from, and the most common ones are:

1. Whole life
2. Universal life insurance
3. Variable universal insurance
4. Survivorship life insurance

Please consult our agents for further details.