Not all life insurance is the same. Permanent life insurance can help you live.

So what is permanent life insurance, anyway?

You likely know one of the main benefits: That it provides (tax-free) money to your loved ones when you die. But permanent life insurance can help you live, too (Yeah, really.):

  • It can help you save for the unexpected. A portion of the premium for permanent life insurance goes toward the cash value, which can grow over time. And, you don’t pay taxes as the money grows.
  • Over the long term, you can withdraw this money—and use it for things like your kids’ college education, home improvements, or supplemental retirement income.1

Do I need life insurance now?

It’s never too early to get life insurance (and it’s not just for people with kids). It benefits you no matter what stage of life you’re in. Here’s how:

  • The younger (and healthier) you are when you buy it, the lower your cost will be. And there’s flexibility, too. You have to pay a minimum amount to keep your coverage (permanent life insurance doesn’t expire as long as you pay your premiums). As your budget allows, you can pay (and save) more—or go back to a minimum payment when you need to.
  • The earlier you buy a policy, the more time you’ll have to grow the cash value. That means you’ll have more to put toward the people and things you love later on.
  • Because you’ll have a backup plan for the unexpected, you won’t have to pull from savings. 

1 Withdrawals and loans my decrease the amount of death benefit and cash accumulation value. Loans may accrue interest.

2 Distributions received are income tax-free if the policy is not a modified endowment contract (MEC) and you withdraw all of your premiums first and then take policy loans and the policy remains in force. If the policy is a MEC, withdrawals prior to age 59 ½ may be subject to a 10% IRS penalty.

All guarantees and benefits of the insurance policy are subject to the claims-paying ability of the issuing insurance company.

In exchange for the death benefit, life insurance products charge fees such as mortality and expense risk charges and surrender fees.

The subject matter in this communication is educational only and provided with the understanding that Principal is not rendering legal, accounting, investment advice or tax advice. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, investment or accounting obligations and requirements.

Financial professionals are sales representatives for the members of the Principal Financial Group. They do not represent, offer or compare products and services of other financial services organizations.

This is not a recommendation and is not intended to be taken as a recommendation.  This material was prepared for general distribution and is not directed to a specific individual. 

Insurance products are issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Plan administrative services provided through Principal Life. Principal National and Principal Life are members of the Principal Financial Group, Des Moines, IA 50392.

Principal, Principal and symbol design, and Principal Financial Group are trademarks and service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.