permanent life insurance


An umbrella term for a variety of plans that combine a death benefit similar to a term life insurance plan with tax-sheltered savings arrangements. Permanent life policies, as their name implies, are meant to be held and paid into for the duration of the insured's life. Because of this, there are significant fees associated with setting up the policy. Despite these fees, the tax advantages can make permanent life a valuable investment over a long period of time. also called cash value insurance.

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We suggested the risk averse family research a permanent life insurance policy to provide optimal coverage with regards to death.

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Sally had paid premium in order to acquire a permanent life insurance policy, but her children were extremely grateful after her death to not have to worry about taxes as her benefactors.

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The insurance salesperson carefully explained the risks and benefits, of her company's numerous permanent life insurance policies, before allowing the customer to make a decision.

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permanent interest-bearing share amount at risk