What Are the Benefits of Permanent Life Insurance?

Benefits of permanent life insurance are that they also allow some degree of flexibility. You can modify the coverage amount and premium payment amount so you can address any changing circumstances or needs throughout your lifetime.

Permanent life insurance differs from some other types of coverage that it can use dividends to pay insurance premiums up front, so you don’t have to pay anything after a certain age. Don’t think of this as a commitment, think of it as an investment in yourself.

The premiums for permanent insurance are based on the assumption they’ll be paid until you die, according to Edward Graves, author of “McGill’s Life Insurance.” Therefore, you can adjust your payment amount at various times throughout your plan, within the limits of your contract.

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