Page 12 - PORTLAND HEALTH BEAT DEC 2020
P. 12
DECEMBER 2020 VOLUME I, ISSUE II
Term Versus Permanent Life Insurance
Why permanent insurance? Simple as these three P’s:
Protection Your insurance will be there to protect your loved
ones with a death benefit for life, as long as the policy is in
force. With term insurance, you have a death benefit for your
selected period. When that period is over, your premiums that
were level for the term period, usually become significantly
higher to keep your coverage. Many choose to discontinue
their term policy.
Potential Permanent life insurance can provide additional cash
value and the opportunity to earn dividends which can be
available to you during the life of your policy. You have the
flexibility to help meet other needs in life (like retirement or
paying for college).
Premium Permanent life insurance means, if you pay your
premiums, they are guaranteed premiums for life. Not so with
term insurance, where premiums increase as you age and
when your health begins to change, especially if you are
reapplying for coverage.
SOURCE: NANCI KOSKI AT REMLEY ADVISORY GROUP LLC
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