risk management

Permanent life insurance is a type of life insurance that provides lifetime financial protection to your beneficiaries.

This means that the life insurance you buy is in effect for the rest of your life as long as you pay your premiums or the policy is considered “paid-up”.

In other words, there’s no expiry date on this policy. This is what makes life insurance “permanent”.

When you eventually pass away at any point in your lifetime, your permanent life insurance makes the death benefit payment to your beneficiaries.

Depending on how it’s designed, the death benefit either remains constant or increases over time, while premiums typically remain level.