Life insurance (or life assurance , especially in the Commonwealth of Nations) is a contract between an insurance policy holder and an insurer or assurer, where the insurer promises to pay a designated beneficiary a sum of money upon the death of an insured person. Depending on the contrac...
Whole life insurance is permanent life insurance that pays a benefit upon the death of the insured and is characterized by level premiums and a savings component.
Term life insurance can be contrasted to permanent life insurance such as whole life... the policy is allowed to lapse due to failure to pay premiums. Term insurance is not generally used...
Whole life insurance is a type of permanent life insurance that can provide a cash value component. Learn about the pros and cons of a whole life policy.
Policyholders can also borrow against the cash value of the policy. For this reason, permanent life insurance is also known as cash value life insurance. 2 Here, we’ll look deeper into...
If you have permanent life insurance, more of your insurance premium goes to cash value in the early years of your policy. Find out how cash value increases over time.
A better solution for permanent coverage is to convert your term life insurance policy into a permanent policy. This is not an option on all term life policies, so look for a convertible...
You may face times when you need cash for an expense. Learn how to determine whether cashing in your life insurance policy is the right solution for you.
Permanent life insurance refers to coverage that never expires, unlike term life insurance, and combines a death benefit with a savings component.
Understand the features of permanent life insurance, its types, benefits, and how it differs from term life insurance.