Permanent Insurance vs. term insurance


Permanent Insurance vs. Term Insurance 

Permanent insurance provides death benefit protection for the lifetime of the insured.  Flexible premium payments and adjustable death benefit protection is available in some types of policies.  Other advantages include tax-deferred growth on policy values as well as access to policy values through policy loans and withdrawals.  Term insurance provides coverage for a specific period.  The cost of converting term insurance to permanent insurance at the end of the term period has become prohibitively expensive as many companies have increased the cost and restricted the contracts that are available for conversion. Although buying term insurance is the most inexpensive way to own life insurance protection, be sure to look down the road at what you need at the end of the term period.  I can simplify this choice for you, your family and even your business.