What is Permanent life insurance policy?

by evan » Thu Apr 20, 2006 04:08 am
Posts: 1276
Joined: 01 May 2005

It is a form of life insurance, where the life insurance coverage is generally for the life of the insured. And the policyholder/insured has to pay an annual premium. The payout of the policy is guaranteed at the end of the policy and the policy has a savings component which is also known as cash surrender value.

Example of Permanent life insurance: Whole life or endowment.

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