Permanent Life Insurance

Invest in Your Loved Ones With Permanent Life Insurance

Permanent life insurance provides you coverage for your entire life, and can help you accumulate a cash value over time, either through the payment of dividends, or by funneling a percentage of your premiums as savings for you.

This means that in the event of your passing—regardless of when it occurs—your beneficiaries will receive the policy benefit. Depending on your policy, beneficiaries may also have access to the cash savings accrued over time.

Benefits You Can Count On

  • Lifetime of coverage: Permanent coverage designed to provide lifelong financial protection for as long as premiums are paid, whereas term insurance usually can’t be renewed past a certain age.
  • Cash value: In addition to a death benefit, Permanent Life Insurance builds cash value over time that can be borrowed against, tax free.

While Permanent Life insurance is relatively more expensive than a term policy, it will last throughout your lifetime, and the tax-sheltered investment component might make it the right choice for you.

What Type of Permanent Life Insurance is Right For You?

Several forms of Permanent Insurance options are available with varying amounts of flexibility and affordability, allowing you to prioritize according to your needs.

Types of Permanent Life Insurance Compared
  Whole Participating Universal Term 100
Lifetime Coverage Yes Yes Yes Yes
Guaranteed premiums Yes Yes No – Can increase or decrease to suit your budget Yes
Savings Component Yes Yes – Dividend is based on the insurance company’s performance Yes – Investment portfolio is customizable No
Cash Value Yes Yes Yes No
  Learn more Learn more Learn more Learn more

Questions About Life Insurance?

If you have any questions about life insurance, we’d be happy to help. Speak with an insurance expert at Mitchell & Whale Insurance Brokers at 1-800-731-2228 or email us at life@mitchellwhale.com.


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