- Permanent life insurance can accumulate into cash value and savings. Any cash value which you receive will be tax deferred.
- There is no risk involved in this form of insurance. Your loved ones will receive a death benefit regardless of when you pass away, whereas term life insurance will only pay out if you happen to be covered when you die.
- You can borrow the cash value you receive to pay for college, a vehicle, etc. You can do this without receiving a penalty for doing so.
- The most noticeable disadvantage to permanent life insurance is the cost. This form of life insurance will cost you a great deal more than term life insurance.
- Should you decide to forgo your permanent life insurance coverage, you will be required to pay a large penalty which will be bounded by law.
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Our professional team at Advisen Life & Wealth have a very strong commitment to providing specialized, personalized, and quality insurance plans to all our clients at extremely competitive pricing, and in an accurate and efficient manner.
At Advisen Life & Wealth, we’re dedicated to diligently work together to know our customers and understand their unique scenarios fully in order to provide thorough, and the most efficient insurance solutions for themselves and their families.
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