Phabbyfundz
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Permanent life insurance stays in force for the insured entire life unless the policy holder stop paying the premiums or surrenders the policy. It is typically more expensive than term.
— Whole life; whole life insurance is a type of permanent life insurance that accumulates cash value. Cash value l insurance allows the policy holder to use the cash value for many purposes,such as a source of loan or cash or to pay policy premiums.
— Universal life; A type of permanent life insurance that let's the policy holder earn a fixed or equity indexed rate of returns on the cash value component
— Variable universal life ; With variable universal life insurance, the policy Holder is allowed to invest the policy cash value in an available separate account and it also has flexible premiums.
— Whole life; whole life insurance is a type of permanent life insurance that accumulates cash value. Cash value l insurance allows the policy holder to use the cash value for many purposes,such as a source of loan or cash or to pay policy premiums.
— Universal life; A type of permanent life insurance that let's the policy holder earn a fixed or equity indexed rate of returns on the cash value component
— Variable universal life ; With variable universal life insurance, the policy Holder is allowed to invest the policy cash value in an available separate account and it also has flexible premiums.