Permanent life insurance can provide you and your family with longstanding benefits that ultimately provide a greater sense of protection and financial security. Here’s an overview of the ways that a permanent life insurance policy can be a valuable option for you and your family. While the primary purpose of life insurance is to protect loved ones in the event of your death,
Stay safe and secure. Unlike permanent life insurance, which is in place for your entire life, term life insurance generally provides a tax-free death benefit for a specific length of time. When the term expires, so does your protection. While you may be able to renew it, your health may have changed and the rates may be higher. While term insurance may initially offer more affordable premiums, permanent life insurance provides a lifetime of protection and value. Your premium stays the same regardless of your age or health conditions, and the policy is more likely to be in force when your family needs it most.
Now is the time. It’s always a good time to protect your family. But it’s even more important to make sure they’re protected when other assets can’t be counted on. That’s why permanent life insurance is so valuable—its cash value is guaranteed to accumulate each year, regardless of the economic environment. This educational, third-party article is provided as a courtesy by Nikesh Parikh (CA Ins. Lic. # 0F79124) CFP®, J.D., LUTCF, RHU®, REBC®, ChFC® &Ajay N Parikh (CA Ins. Lic. # 0672686), Agents, New York Life Insurance Company. To learn more about the information or topics discussed, please contact Nikesh Parikh or Ajay N Parikh at 562-403-7100.
1 Guarantees are backed by the claims-paying ability of the issuer.
2 The cash value in a permanent life policy is accessed through policy loans, which accrue interest at the current rate and decrease the available death benefit and cash value.
3 Dividends are based on the policy’s applicable dividend scale, which is neither guaranteed nor an estimate of future results.