Permanent life insurance is invaluable for covering major expenses after your death, like your final costs, your family’s income, and estate liquidity. Permanent policies give you the opportunity to grow cash value over time, plus federal-tax-free payment of death benefits.
A permanent life insurance policy is a good fit for:
- Anyone with a partner, spouse, and/or family who depends on your income
- Young investors willing to take risks and stay the course for more potential cash value
- Current term policyholders looking to transition to something more permanent
- People in or nearing retirement who want to invest in their family’s future
While permanent policies generally have a higher initial premium than term policies do, a portion of those premiums go toward growing cash value, which could offset costs over time.