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, dental insurance cosmetic car insurance quote is designed to look 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. texas auto insurance car insurance quote It is offered under a number of different 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 health insurance plan car insurance quote the cash value to pay premiums, or to buy a lesser amount 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, car insurance quote car insurance quote 10,