What is permanent life insurance?
Permanent life insurance is often called whole life insurance because it provides lifetime coverage – with the added benefit of accumulating cash value over time. Permanent insurance costs are usually guaranteed when you first buy the policy. And some permanent insurance plans enable you to pay for a limited number of years and then never again. Universal life and participating life are other forms of permanent life insurance that you may want to consider.
Is permanent life insurance right for you?
Permanent life insurance is well suited to meet the needs of people who are:
- Interested in lifetime coverage, cash values and level premiums
- In need of a permanent guarantee that will help protect family and loved ones, cover final expenses and enable them to otherwise plan their estate
- Looking for a less expensive option than participating life insurance
An advisor can provide you with the most accurate life insurance quote and find you the best coverage for your needs.
Types of permanent life insurance:
SunSpectrum Permanent Life
- SunSpectrum Permanent Life provides straightforward lifelong insurance
- This product is particularly well suited to people who want guaranteed protection for life but are not interested in actively managing their coverage
Sun Limited Pay Life
- Sun Limited Pay Life provides lifelong insurance without the lifelong payments
- The product is designed for people who want a guaranteed cost for a guaranteed length of time, plus the ability to increase tax-preferred savings or increase the amount of their death benefit
Get permanent insurance
Step 1: Find an advisor
An advisor can help you determine the right life insurance for your needs. Talk to your advisor or find one near you to help answer your questions – there is no cost to talk to an advisor.