Permanent Life Insurance
A life insurance policy that offers lifelong coverage for the insured individual, as long as premiums are paid. It also typically includes a cash value component that grows over time.
Detailed Explanation
Examples of permanent life insurance include whole life, universal life, and variable life insurance.
Practical Example
Emily purchased a whole life insurance policy, which is a type of permanent life insurance. This policy will provide coverage for her entire lifetime and has a cash value that grows over time.
Frequently Asked Questions
Related Terms
Need Insurance Coverage?
Request quotes from top insurance providers and find the best coverage for your needs.
Get Free Quotes