Permanent Life Insurance

A phrase used to cover any form of life insurance except term insurance. This is life insurance that accrues cash value, such as endowment or whole life.

It is important to understand how life insurance is underwritten. When you apply for life insurance your occupation and state of health are considered along with out factors such as family health history. When the policy is set in place you are insured - even in down the road your occupation becomes quite hazardous or your health deteriorates.

This is one of the reasons why people will choose permanent life insurance versus term insurance or credit insurance. Weigh your options and try to consider what your long range plans will be. Tying your life insurance into other financial planning is a wise move.