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The Life Insurance Blog

Helping millions of Americans become educated
in making decisions about their life insurance needs

                                                    

5 Great Reasons to Consider Permanent Life Insurance

Apr 17, 2014 9:58:00 AM

Here at IntelliQuote, we could come up with countless great reasons to buy permanent life insurance, but we’re going to focus today’s post on five that resonate with most consumers. If you’re on the fence about buying permanent life insurance, consider the following:

permanentGuaranteed Cash Value Growth

There are few guarantees in life, but you are guaranteed to earn cash value in your permanent life insurance policy every year, regardless of the state of the economy. That’s right; the cash value of your policy is not driven by interest rates and is, therefore, not subject to the ebbs and flows of the economy. It is important to note that growth rates are typically between two and four percent. While you may stand to earn faster returns on some products, the fact remains, you can depend on guaranteed growth with a permanent life insurance policy.

Tax-Free Dividends

Though not always guaranteed, many leading carriers offer dividends on an annual basis – dividends which are not taxable.

Access to Cash Value

With permanent life insurance, you also have the freedom to access the cash value in your policy at any age, without facing taxes or penalties. Unlike IRAs & 401ks that impose penalties if you access your cash prior to retirement, permanent life insurance policies enable you to borrow or draw upon your cash value at any time.

Guaranteed Coverage

It’s no surprise that it becomes more and more difficult and expensive to secure life insurance coverage later in life. With a permanent policy, you do not have to worry about outliving your policy or having to pay higher premiums down the road.

Death Benefits

On top of all of the benefits you enjoy during your life time, your policy will enable you to leave a tax-free death benefit behind. Permanent life insurance has been used by families for decades to protect and transfer wealth from generation to generation.

There you have it, five great reasons to purchase permanent life insurance. Now, if you’re ready to compare coverage, you’ve come to the right place. Simply complete our quote request form and receive a side-by-side comparison of life insurance quotes from the industry’s top rated carriers. Have questions? Your personal IntelliQuote advisor will be happy to help you compare life insurance quotes and address all of your questions. What are you waiting for? Request your life insurance quotes online today!

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While there, be sure and read these recent popular posts:

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