Did you know that there are different types of Permanent Life Insurance?

Each with its own unique features and benefits. Here are some of the most common types of permanent life insurance:

1. Whole Life Insurance: This is the most traditional form of permanent life insurance, which provides coverage for the entire life of the insured person, as long as the premiums are paid. Whole life policies have a fixed premium and a guaranteed cash value accumulation over time.

2. Universal Life Insurance: This type of policy offers more flexibility than whole life insurance by allowing policyholders to adjust their premiums and death benefit. Universal life policies also accumulate cash value, but their returns are tied to market interest rates.

3. Indexed Universal Life Insurance: This type of policy offers the same flexibility as universal life insurance, but the cash value accumulation is tied to the performance of a selected stock market index.

4. Variable Life Insurance: This type of policy offers investment options for the policyholder, allowing them to choose how the policy’s cash value is invested. This means that returns on the cash value are not guaranteed and are dependent on market performance.

5. Variable Universal Life Insurance: This is a combination of universal life insurance and variable life insurance. It offers the same investment options as variable life insurance, with the added flexibility of being able to adjust the premiums and death benefit.

It’s important to understand the differences between these types of permanent life insurance policies and consider your personal financial goals and needs before selecting a policy.