One way to make a determination on
what permanent cash value policy is right for you would be to have a licensed advanced markets pro run some illustrations for you.
All types
of permanent cash value policies typically have a specified cash surrender period that must lapse before you can completely withdraw the cash value in the policy without paying penalties to the life insurance company.
All types of
permanent cash value policies typically have a specified cash surrender period that must lapse before you can completely withdraw the cash value in the policy without paying penalties to the life insurance company.
As with
all permanent cash value policies, whole life insurance cash value grows tax deferred.
Another built - in feature of most term life policies is the right to convert your coverage to
any permanent cash value policy that the company offers at current rates without having to take another medical exam.
Check out or Top 10 Best No Exam Life Insurance Companies article for more on
permanent cash value policies that don't require medical tests or blood work.
It could be convertible to
a permanent cash value policy, which could then be sold to someone else as a life insurance settlement asset.
Sometimes if you purchase
a permanent cash value policy the rating with which your policy would be issued may not result in an extra premium.
The idea here is that you get the coverage amount you need now with the option of converting all or a portion of that death benefit into
a permanent cash value policy.