Insurance that accumulates cash value tax free. The policy endows when the cash accumulation becomes equal to the face value or the amount of coverage.
A form of life insurance that provides lifetime coverage to the policy owner. This type of policy also provides a savings element that builds a cash value in the policy.
Insurance contracts that offer lifetime coverage for fixed premium payments. Premiums may be payable for life (whole life), or for shorter periods (limited pay). Permanent insurance generates cash value -- the basis for the policy‘s “surrender value“.
Refers to life insurance payable on the death of the person whose life is insured, whenever that occurs. Premiums are payable on a regular basis until death usually, although policies can become “paid up” before you die. Coverage is provided for life. This type of life insurance provides both protection and often times cash value.
Any form of life insurance except for term life insurance; typically insurance that builds up a cash value, such as whole life.
Another name often applied to Cash Value Insurance policies. Permanent Insurance is not actually a correct term because the insurance portion or net amount at risk is really decreasing due to a rising cash value in the policy. p 76, 154
Insurance cover for the entire life of the policyholder, usually in the form of a whole of life contract.
The type of life insurance that develops cash value and includes whole life, endowment, universal life and variable life insurance.
Provides life insurance throughout a person's lifetime.
A general term for ordinary life and whole life insurance policies that remain in effect as long as their premiums are paid.
As long as the premiums are paid, permanent insurance provides income for a beneficiary if the insured dies. Permanent life insurance also builds up a cash value, which can be used during the lifetime of the insured.
