How permanent life insurance can benefit you.

When it comes to life insurance, most people go with term life policies due to their straightforward nature.  However, securing permanent or whole life insurance has some serious benefits to consider.  Here is why permanent life insurance is a good option for many people.

  • You Have Coverage That Never Expires

The most obvious benefit of permanent life insurance policies is that they offer coverage that never expires.  This means that you can simply secure one policy and never have to worry about finding another.  Additionally, because you will always have coverage, you can rest easy knowing that your beneficiaries will receive compensation no matter when you pass away.

  • You Have Cash Value Benefits

Permanent life insurance policies offer a cash value component that allows you to borrow against the policy.  The longer you have your policy, the more your cash value increases.  Once this amount reaches a certain limit, you can borrow money from your insurer, using the policy as collateral.  These types of loans do not require you to undergo credit checks or meet other qualifications.  Another bonus is that these types of loans tend to have lower interest rates than standard personal loans from a bank or other financial institution.  So, securing a permanent life insurance policy can offer you convenient and flexible financing options.

  • You Can Diversify Your Assets

Finally, a permanent life insurance policy is considered an asset by financial experts because there is a guaranteed return (death benefit).  Thus, investing in a whole life insurance policy is a great way to diversify your financial portfolio.

These are some of the advantages of securing permanent life insurance.  Interested in learning more about this life insurance option?  If so, then contact the experts at Randy Jones Insurance Services in Pleasanton, California.  Our dedicated team is eager to assist you with all your coverage needs today.