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John Harman, CPA PLLC

Life Insurance - Protect Your Family

Contact Us (469) 742-0283

Term vs. Permanent Life Insurance

There are two main types of life insurance on the market today-term and permanent life insurance. Term covereage is on eof the most recognizable types of insurance. It provides short-term coverage at an affordable price. It also gives flexibility of varying policy lengths and provides a death benefit if the insured dies during the coverage period. Although there is definitely a need for term life insurance, increases in life expectancy provide a good chance you could outlive your term policy. 

Permanent life insurance has many benefits, including a death benefit for when the insured dies, but does tend to be more expense. Depending on your financial goals, it may be a better option.  

The benefits of permanent life insurance

  • Permanent life insurance offers death-benefit protection for the entire life of the insured, no matter when he or she dies, as long as the policy is in effect. 
  • Permanent life insurance offers opportunities for cash value accumulation, which may be utilized for personal or business needs while the insured is living.

Permanent life insurance may be a good fit for you if you are

  • Concerned about family's financial needs if death occurs during working years
  • Concerned about outliving term insurance coverage
  • Looking to enhance financial protection in retirement years

**Click HERE for a free quote on Term Life Insurance 

**Call (469) 742-0283 to set up a free appointment to discuss if a Permanent Life Insurance policy is right for you.