Another Name For Permanent Life Insurance Is at Life

Another Name For Permanent Life Insurance Is. Whole life is sometimes called permanent life insurance, and it encompasses several subcategories, including traditional whole life, universal life, variable life and variable universal life. This term life insurance policy will guarantee that you will pay the same premium for the duration of your policy.

Another name for world war i is: Cash value:permanent life insurance policies typically have an investment portion that increases in value over time. This distinguishes it from term life insurance.

Unlike whole life insurance that locks you in at one rate for the rest of your life, universal life insurance is a type of permanent life insurance policy that provides policyholders with the flexibility to increase or decrease the coverage amount, as long as it's approved by the life insurance provider. Policy loan a loan a life insurance company makes to a policy owner. Universal life insurance is similar to whole life, but with additional flexibility. It is likely appropriate for individuals who have permanent life insurance needs and prefer the consistency of a fixed premium.