What is Permanent Life Insurance?

Permanent life insurance is a type of insurance product that many individuals choose to purchase. Here are the basics of permanent life insurance and how it works.

Permanent Life Insurance

As the name implies, permanent life insurance is designed to last for the entire life of the individual that is covered. This means that no matter what happens, the life insurance policy is going to pay for the death benefit at some point. One of the most common types of permanent life insurance is referred to as whole life insurance.


When dealing with permanent life insurance, you are going to have to pay a higher price in order to secure this type of coverage. When compared to term life insurance, it is going to be more expensive every time. The reasoning behind this is that they are guaranteeing some type of a death benefit payment to you. This means that the insurance company knows that they are going to have to pay a sizable amount of money to every single customer that they take on. Because of this, they have to charge higher premiums in order to cover all of the guaranteed death benefit that they regularly pay out.

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