Permanent Life Insurance
/ˈpɜːrmənənt laɪf ɪnˈʃʊərəns/
Definitions
- (n.) A type of life insurance policy that provides coverage for the insured's entire lifetime, typically featuring a cash value component.
She purchased permanent life insurance to ensure her beneficiaries would receive financial support regardless of when she passed away.
Forms
- permanent life insurance
Related terms
See also
Commentary
Permanent life insurance policies differ from term policies by covering the insured lifelong and accumulating cash value; understanding policy distinctions is crucial when drafting or interpreting insurance agreements.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.