Posts about “Permanent life insurance”

Permanent life insurance is an umbrella term referring to any life insurance policy that doesn’t expire. Most permanent life insurance plans have two parts: a death benefit and a savings benefit. The death benefit is a lump-sum paid to beneficiaries at the time of death. The savings benefit allows the policy to build a cash value. The policy-holder has the option to borrow funds against this value as needed. Having life insurance is an effective way to plan for end-of-life expenses.