Key details about permanent life insurance
A key feature of permanent life insurance is the cash value component, which grows over time on a tax-deferred basis and can typically be borrowed against or withdrawn while you're still living.
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Call (844) 658-4509Because it is designed to pay a death benefit whenever death occurs as long as the policy stays in force — which for universal life and IUL depends on paying enough premium to cover policy charges — permanent life insurance generally costs more than term insurance for the same coverage amount.