Permanent Life Insurance
Permanent Life Insurance is a more expensive option but with additional benefits. Premiums for Permanent Life Insurance include the cost of providing a financial benefit for an individual in the event the person were to die, but also may build a cash value within the policy at a guaranteed rate of interest. The cash value grows tax deferred. That cash value can be used for many reasons, and when the term in which the payments are made is over, or if the policy is cancelled, the cash value may remain.
