Permanent Life Insurance
Coverage That Never Expires
Unlike term life, permanent policies don't have an end date. They stay in force for your entire life, accumulate cash value you can use while living, and pass a guaranteed benefit to your heirs.
Talk to Terry About Permanent LifeWhat Makes It Different
Term life is rented coverage — it expires. Permanent life is owned coverage — it stays. The premium is higher, but you're building an asset at the same time as paying for protection.
- Coverage guaranteed for your entire life
- Cash value grows tax-deferred over time
- Borrow against it — no credit check, no taxes
- Estate planning: pass wealth to heirs tax-efficiently
- Premium stays level — never increases with age
- Can supplement retirement income
Term vs. Permanent: At a Glance
Three Kinds of Permanent Life
Terry will match you to the right one based on your goals.
Whole Life
Fixed premiums, guaranteed death benefit, and guaranteed cash value growth. The most predictable option — your rate never changes and the policy never lapses as long as premiums are paid.
Best for: People who want certainty above all else.
Universal Life
Flexible premiums and adjustable death benefit. You can increase or reduce coverage as your needs change, and redirect cash value growth into different account options.
Best for: People who want flexibility alongside lifetime coverage.
Indexed Universal Life (IUL)
Cash value growth tied to a stock market index (like the S&P 500) with a floor that protects against losses. Higher growth potential than whole life with downside protection.
Best for: High earners looking for tax-advantaged growth and lifetime coverage.
Common Questions
Is permanent life insurance worth the higher premium?
It depends on your goals. If you only need income replacement for 20 years, term is more efficient. But if you want lifelong coverage, estate planning, or a tax-advantaged savings vehicle, permanent life can deliver far more value than the premium difference suggests.
Can I borrow against my policy?
Yes. The cash value inside a permanent policy grows tax-deferred and you can borrow against it — often at favorable rates — without triggering a taxable event. Many clients use this for retirement income supplements or business capital.
What happens if I stop paying premiums?
Depending on the policy type, accumulated cash value may cover premiums for a period. With universal life, you have more flexibility. With whole life, there are surrender value options. Terry will explain the specific policy mechanics before you commit.
Can I convert my term policy to permanent?
Many term policies have a conversion rider that lets you convert to a permanent policy without a new medical exam. This is valuable if your health changes — you lock in insurability before you lose it.
Explore More
Other Life Insurance Options
Not sure this is the right fit? Terry will help you find what actually works for your situation.
Protect Your Family.
Let's Find Your Coverage.
Life insurance and employee benefits. No pressure, no commitment. Just real guidance from two people who pick up the phone and tell you the truth.
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