Author : einsured Admin
Life insurance policies that do not expire are referred to as permanent life insurance. Permanent life insurance usually includes a death payout and a savings component.
What are the different types of permanent life insurance?
Both whole and universal life provide lifelong coverage and tax-free cash gain, but they are structured differently.
Whole life and universal life are the two most common types of permanent life insurance. Whole life insurance provides coverage for the insured's whole life, and the funds grow at a guaranteed set rate.
Universal life insurance, in addition to a death benefit, provides a savings component that varies with the payment frequency and market performance where the premiums (funds) are invested.
Whole life insurance
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