Conversely, permanent life insurance tends to be more expensive
initially than term coverage, but monthly rates tend to stay the same over time.
While it definitely is more
expensive than term coverage, the permanent nature of the policy definitely has its benefits for certain people.
Because whole life coverage doesn't expire and includes a savings component, insurance companies typically have to charge more for whole life
coverage than term coverage.
The flipside of a policy conversion is the cost «permanent» life insurance is much higher
than term coverage since the life insurer will certainly pay a death benefit at one point.
If you do need permanent life insurance, it will cost more
than term coverage and a guaranteed universal policy is the closest way to approximate your cost of coverage.
It is more expensive
than term coverage but it's permanent coverage with level premiums for the rest of your life.
It's more expensive
than term coverage, but if you have permanent needs — this product will be your best option.
It will be more expensive
than term coverage but it lasts forever so that should give you peace of mind.
Due to the guaranteed payout, the premiums are substantially more
than term coverage.
It might be more expensive
than term coverage but it is permanent so you will sleep much better at night.
If you do need permanent life insurance, it will cost more
than term coverage and a guaranteed universal policy is the closest way to approximate your cost of coverage.