Protect your family from unplanned expenses with one of our top permanent life insurance companies.
Mutual of Omaha
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Mutual of Omaha
3,107 peoplevisited this site this week
Before diving in and purchasing life insurance, it is vital to understand exactly what features to look for when comparing the best life insurance companies. There are various types of life insurance designed to fit a wide variety of needs. Moreover, some providers offer customizable policies with added provisions known as “riders,” which can add valuable benefits — especially if you're interested in permanent life insurance options.
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If you are scratching your head wondering, “What is life insurance?" don't worry. It's not as complicated as it sounds. Life insurance ensures that your spouse, children, or anyone else who depends on your financial support is protected when you pass away.
There are two main types of life insurance to consider:
Term Life Insurance offers coverage for fixed periods such as 10, 20, or 30 years at guaranteed rates.
Whole Life Insurance provides lifetime protection and can be a part of a broader permanent life insurance strategy.
When shopping around, many consumers request permanent life insurance quotes to better understand what long-term protection will cost based on their unique needs.
Whole life insurance, often referred to as a permanent life insurance policy, covers the policyholder for their entire lifetime. When the insured passes away, the policy pays a guaranteed death benefit to their chosen beneficiaries.
Additionally, the policy accumulates cash value over time, which policyholders can borrow against or use in retirement. Premiums are fixed based on the applicant's age at the time of application and are typically higher than those for term life insurance.
Understanding the permanent life insurance cost early helps you make a decision that balances premium affordability with lifelong protection.
Depending on your goals, here are several permanent life insurance options to consider:
Traditional whole life insurance ensures that both your premium and death benefit stay level throughout your life. Many people interested in stability often request permanent life insurance quotes specifically for these types of policies.
Universal life offers flexibility in premium payments and death benefits. A portion of your premium builds a cash value that you can access later in life.
Indexed universal life links cash value growth to the performance of a stock index like the S&P 500. It offers the potential for higher returns while still protecting against market downturns.
Variable life policies let you invest the policy’s cash value in a variety of market options such as stocks and bonds. Though offering more growth potential, variable life comes with increased risk.
Permanent life insurance provides several distinct benefits over term life insurance:
Lifetime protection as long as premiums are paid.
Cash value accumulation that can be used during your lifetime.
Fixed premiums in many policies.
Potential to build supplemental retirement income.
Whether you're looking for permanent life insurance for seniors or younger applicants seeking to lock in lower rates early, a permanent life insurance policy can serve as a reliable financial foundation.
Permanent life insurance is particularly ideal for:
Individuals who want coverage that never expires.
Seniors seeking permanent life insurance for seniors plans that guarantee future financial protection.
Those looking to leave behind a legacy or pay for estate taxes.
Families wanting cash value options to assist in future financial needs.
Given the varied needs among policyholders, comparing permanent life insurance quotes is essential to find the right plan at a manageable cost.
Don’t Just Rely on Group or Employer Life Insurance
Employer-provided life insurance is often a good benefit, but it typically isn't enough for long-term protection. Most group policies do not follow you if you change jobs, leaving significant gaps.
Purchasing your own permanent life insurance policy ensures that your family remains protected no matter where life takes you.
To determine the right coverage amount:
Review your current and future financial needs.
Calculate debts, living expenses, education costs, and income replacement needs.
Consider your budget when evaluating permanent life insurance cost.
Requesting several permanent life insurance quotes can help you gauge what coverage amount and policy type fits your financial situation.
Applying for permanent life insurance typically involves an underwriting process. Medical exams, health questionnaires, and financial reviews help insurers assess the applicant’s risk and determine premium rates.
While underwriting might seem tedious, it ensures fair pricing and appropriate coverage based on your personal situation.
Choosing the right life insurance policy is one of the most important financial decisions you can make. Whether you need term coverage or are ready to explore permanent life insurance, taking action today can protect your family's future for decades to come.
* Rate based on female, age 50, $5,000 in coverage
** The total amount of all AGL Guaranteed Issue Whole Life Insurance policies on any person cannot exceed $25,000 in the aggregate.