Permanent life insurance coverage for as long as you live and continue to make timely premium payments. With level premiums and the accumulation of cash values, permanent life insurance is a good choice for long-range goals. The guaranteed cash values can provide money later on to help with temporary needs or emergencies.

Features of Permanent Life Insurance

• Premiums generally are level and payable for life: Since premiums are level, the younger you are when you purchase a permanent life policy, the less expensive the annual premiums will be. 
• Dividends: Permanent life insurance policies can earn dividends. Dividends result when actual life insurance costs turn out to be less than what the Life Insurance Carrier assumed in setting the premiums. When this happens, the insurance company may return a portion of your life insurance premium to you as a dividend. Dividends are not guaranteed, since the insurance carrier does not know the actual costs in advance.
• Guaranteed Cash Values: Unlike term life insurance, which does not accumulate any cash values, some of the money you pay into your permanent life policy accumulates as guaranteed cash values. If you choose to surrender the policy, these guaranteed cash values would be available to you. Alternativley, as long as the policy is in force, you may borrow against it as a policy loan at the current policy loan interest rate. The amount of your guaranteed cash value depends on the kind of permanent life policy you have, its size and how long you have had it. The growth in cash values is tax deferred under current federal income tax law. Borrowed amounts reduce the death benefit and cash surrender value.