If you don’t need a lot of coverage or don’t mind paying a little more, permanent life insurance will eliminate the worry of leaving your family behind with no financial support at any age or stage.Getting permanent life insurance quotes online is the best way to ensure you are getting the right coverage for the best rate. Let’s cover some basic things to consider before comparing quotes.
What is it?
Unlike term life insurance, permanent life insurance is designed to provide lifetime protection. You might have heard of permanent life insurance before through its different types such as whole life or universal life insurance. Best way to describe it is a when
it happens not if
it happens type of life insurance. You can get a permanent policy that will last till age 90, 95, 100 and even age 121 with select companies.
Who is it for?
If you are looking into permanent life insurance quotes then most likely your biggest concern is to cover a permanent need. This can be things such as funeral expenses, estate taxes or ensuring you leave money to your loved ones. Permanent life insurance can be ideal for any age or situation. Although we find it that people in the age groups of 50+ who have a small mortgage balance and have children who are no longer dependents are the ones who find this coverage ideal.
Is it good or bad?
Lets take a look at some pros’ and cons of permanent life insurance:
What kind should I buy?
- Pro’s are it protection that doesn't expire, has a savings element with the cash value accumulation, can be flexible and has a variety of uses for estate planning.
- Con’s are the most obvious being the cost of it which you will see the quotes for permanent life are much higher than term life, if not structured properly can lapse due to insufficient funding, and cash value accumulation can be miniscule not making it worthy investment tool.
As mentioned above there are different types of life insurance but we strongly recommend a guaranteed universal life insurance policy if you are looking for an affordable policy just for pure protection purpose. It is simple and has the lowest rates out of all permanent life insurance options. Please click here to get more detailed information on Guaranteed Universal Life Insurance.
How to get it?
First you need to determine how much coverage you need and whether you need it till age 90 or 120. Once that is all figured out fill out the information on our quote engine above and click view quotes button. The next screen will only show you permanent life insurance quotes if there is a plan that you like hit select to fill out an application request or simply call us at 888-492-1967.