Permanent life insurance includes plans that do not expire (unlike term life insurance) and combine a death benefit with a savings portion. This savings portion can build a cash value -against which you can borrow funds, or in some instances, the owner can withdraw the cash value to help meet future goals, such as paying for a child's college education. The two main types of permanent life insurance are whole and universal life insurance policies.
Permanent life insurance policies enjoy favorable tax treatment (based on current tax laws). The growth of cash value is generally on a tax-deferred basis, meaning that you pay no taxes on any earning in the policy so long as the policy remains active.
Your local agent can assist you in determining which policy suits your current and future individual and family needs.
Permanent life insurance policies enjoy favorable tax treatment (based on current tax laws). The growth of cash value is generally on a tax-deferred basis, meaning that you pay no taxes on any earning in the policy so long as the policy remains active.
Your local agent can assist you in determining which policy suits your current and future individual and family needs.
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