Benefits

  • 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.

Downfalls

  • 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.

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