Southern Insurance Associates
by AJaye Brown on Nov 17, 2015
A permanent life policy provides lifelong insurance protection. The policy pays a death benefit if you die tomorrow or if you live to be a hundred. There is also a savings element that will grow on a tax-deferred basis and may become substantial over time. Because of the savings element, premiums are generally higher for permanent than for term insurance. However, the premium in a permanent policy remains the same, while term can go up substantially every time you renew it.
There are a number of different types of permanent insurance policies, such as whole (ordinary) life, universal life, variable life, and variable/universal life. In a permanent policy, the cash value is different from its face value amount. The face amount is the money that will be paid at death. Cash value is the amount of money available to you. There are a number of ways that you can use this cash savings. For instance, you can take a loan against it or you can surrender the policy before you die to collect the accumulated savings.
There are unique features to a permanent policy such as:
Call Southern Insurance Associates, LLC in La Fayette, GA to discuss your life insurance at 706-996-8788 or Info [at] SouthernInsuranceAssociates [dot] com. Call us; we're happy to help!
408 N. Main Street
La Fayette, GA 30728
7579 Nashville Street
Ringgold, Georgia 30736
9AM - 5PM Mon - Fri