Life insurance's dynamic duo: permanent and term Life insurance provides important financial protection. In this article we'll explore the common types of life insurance. There are two basic kinds of life insurance: permanent and term. -------------------------------------------------------------------------------- Permanent insurance is designed to cover long-term and permanent financial needs, such as income for your survivors and dependents, death taxes and funeral expenses. Term insurance, on the other hand, is designed to look american heritage life insurance company american heritage life insurance company after shorter-term financial needs, such as mortgages, education, and other expenses when children are young. It is also a useful tool for business owners and partners to provide continuity to the business in the event of the death of a principal. Permanent insurance provides lifelong protection and remains in force with no premium increase as long as the policy premiums are paid. It is offered under a number of different home insurance nova scotia american heritage life insurance company names: Whole life Universal life Variable life Permanent life insurance includes a number of features including: The premiums remain level over the lifetime of the policy Reserves in the policy accumulate as a cash value You may borrow against this cash value of the policy You may receive the cash value if you surrender your policy A non-forfeiture option allows you to use the cash value to pay premiums, or to buy a lesser amount insurance quotes free online american heritage life insurance company of permanent insurance with no further premiums, or to purchase an equal amount of term insurance Participating policies receive their share of the financial success of the life insurance company in the form of dividends which are declared annually and paid to the policyholders Term insurance provides protection for a specified period of time: One, five, 10, or 20 years Or to age 60 or 65 It pays a benefit only if home health care insurance american heritage life insurance company you