Permanent life insurance Sunday, June 18, 2006
Life insurance coverage for which the policyholder pays an annual premium, generally for the life of the insured. This type of policy features a savings component, known as the cash surrender value.
A phrase used to cover any form of life insurance except term; generally insurance that accrues cash value, such as whole life.
A term loosely applied to Life Insurance policy forms other than Group and Term, usually Cash Value Life Insurance, such as endowments and Whole or Ordinary Life policies.
Life insurance that provides coverage throughout the insured’s lifetime and also provides a savings element that builds a cash value.
Type of life insurance other than term insurance which accrues cash value and is designed for long-term, or permanent, needs of a policy holder. Includes universal and variable life, among others.
A type of life insurance that includes both a death benefit and a cash value component.
Life insurance that continues as long as premium payments are made or enough cash value is available to cover the cost of insurance charges. Typically the maturity of the policy is age 100 of the insured.
Insurance that covers the entire life of the insured person, as long as the premiums are paid. This type of insurance also builds up a cash value.
is designed to provide lifelong protection with generally level premiums. There are three main types: whole, universal and variable. All permanent policies may accumulate cash value.
Permanent life insurance is a form of life insurance such as whole life or endowment, where the policy is for the life of the insured, the payout is assured at the end of the policy (assuming the policy is kept current) and the policy accrues cash value.
posted by your Insurance @ 10:01 AM,
