Everyone eventually dies. However, not everyone leaves their family with the financial security that they need to live a comfortable life. Funeral costs and other final expenses can burden your loved ones. Personal insurance, such as permanent life insurance, can help cover the cost of final arrangements and even leave additional money to your beneficiaries so they can move forward worry free. In addition, a permanent policy offers you advantages, too. Here are a few:

The insurance value remains tax-deferred as long as you are alive.

With permanent life insurance, the cash value of your policy can grow without being taxed during your life time. You can safely put money aside for the people you love without being concerned about income taxes.

Your money grows safely and is accessible when you need it.

Your permanent life insurance policy has a cash value, and that value is guaranteed. Thus, you can always access your accumulated funds. You can borrow up to the full cash value of your policy or even withdraw funds to pay for college, add to your retirement income, or handle a family emergency.

You don't have to be concerned about the risk associated with market changes as you do with stocks. In addition, there are no penalties associated with a withdrawal as there are with other tax-deferred investments, such as a 401K plan.

Your permanent life insurance policy offers you flexible options. 

Once you have paid off a permanent life insurance policy, you can choose to cash in the policy and invest the money elsewhere or keep a portion of the death benefit intact while you access some of the cash value. If you prefer to leave the policy in place without making changes, you can continue it at the same death benefit level. 

You can't be dropped for health reasons.

As long as you don't stop paying your premiums, your permanent life insurance coverage remains intact. If your health declines, your coverage will not change, and you can't be dropped from the policy.

Permanent life insurance can provide multiple benefits. If you would like to purchase a policy or make changes to your existing life insurance policy, contact a life insurance agent today. Some life insurance policies are adjustable, so you may be able to lower or raise the death benefit of your policy during its life. However, adjustments may affect your premiums as well as the overall cost of your policy.

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