Permanent life insurance

Permanent life insurance is a form of life insurance as any life or endowment funds, where the policy is for the life of the insured, the payment is fixed at the end of the policy (assuming the current policy is maintained) and the policy cash value accumulates.
This compares with the term life insurance, where insurance is purchased for a specified period (usually one year, or during periods of level such as 5, 10, 15, 20 and even 25 to 30 years), a death benefit will be paid to the beneficiary if the insured dies during the period of time.

Permanent life insurance originally was offered as a premium product fixed return known as whole life insurance shall also known as the redemption of life insurance. This offer guarantees to consumers that the accumulation of cash value and price. Consumers want more flexibility than that offered on a universal life insurance. Universal life insurance allows consumers flexibility when premiums are paid and the amount that would be. The universal life policies also allowed consumers to withdraw money from a permanent policy without the interest associated with the loan provisions in insurance policies for life. The universal life policies retained the fixed investment performance of whole life insurance policies. On variable life insurance follows the mold of whole life or universal, but moves the investment risk for the consumer and the potential for higher returns. Variable universal life insurance combines this with the flexibility in premium structure of universal life to create more choice for consumers to manage their own money (at your own risk). Variable life insurance policies are considered more universal replacement for permanent life insurance because of the favorable tax treatment of all life insurance policies and their potential for higher returns than permanent life insurance permanent other.
What are the characteristics of term life insurance?
The characteristics of life insurance include coverage term, no cash value and maturity of the policy if you survive long term.
Term life insurance is temporary life insurance protection, usually for a period of 1-30 years. Many life insurance policies are issued for years 10, 15, 20 or 30.
Life insurance is pure protection, you only pay for life insurance, no cash value that accumulates in the policy.
If you survive the term of your contract, the life insurance coverage expires.
Term life insurance can enable an option to renew the building, allowing you to renew your life insurance policy without a physical exam to qualify for the new policy.
Permanent life insurance can cost 2-3 times more than term life insurance.