Permanent life insurance are life insurance policies which are guaranteed to remain in force for the insured's entire lifetime, provided that the required premiums are paid. Premiums are fixed and are based on the age of the insured at the time that the policy is issued, and usually do not increase with age. Normally you pay premiums until death. A permanent life policy usually has both an insurance and an investment component. The insurance component pays a stated amount upon death of the insured. The investment component accumulates a cash value that the policyholder can withdraw or borrow against. The two main types of permanent life insurance are whole and universal life insurance policies.
Picking the right type of life insurance is critical for you and your family, so be sure to do your research to carefully consider which will best serve your needs. The knowledgeable and experienced agents at Boizelle Insurance Partnership are ready to review your current life insurance policies and discuss the options available to you.
Contact a Boizelle Insurance professional to learn more or get a quote.
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