This type of life insurance provides coverage for the entirety of the policyholder's life. It typically offers both a death benefit and a cash value component that grows over time. Permanent life insurance is important because it can help ensure that your loved ones are financially protected in the event of your unexpected death. It can also be used as a source of retirement income or to pay for long-term care expenses later in life. There are three types of permanent life insurance, namely; Whole Life, Universal Life and T-100.

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Whole Life

This is a type of permanent life insurance that offers a death benefit and a cash value component. Unlike universal life insurance, the premium payments and death benefit amount are typically fixed and the policyholder cannot adjust them over time. The cash value component grows tax-deferred and can be used to pay premiums or withdrawn as needed. Whole life insurance can provide lifelong coverage and can also be used as a source of retirement income. 

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Universal Life

This is a type of permanent life insurance that offers both a death benefit and a cash value component. The policyholder can adjust the premium payments and death benefit amount over time, providing flexibility in the coverage. The cash value component grows tax-deferred and can be used to pay premiums or withdrawn as needed. Universal life insurance can provide lifelong coverage and can also be used as a source of retirement income. 

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T-100

This is a type of term life insurance that provides coverage for a specific period of time, typically until the policyholder reaches age 100. Unlike other types of term life insurance, T100 insurance provides coverage for the entirety of the policyholder's life and does not expire after a certain number of years. T100 insurance typically has fixed premiums and a fixed death benefit amount.

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This is a type of life insurance that provides coverage for a specified period of time, typically between 10 and up 30 years. It is usually more affordable than permanent life insurance and is a good option for those who want to ensure that their loved ones are financially protected during a specific period, such as while their children are still dependents or while they're paying off a mortgage. Term life insurance is important because it can provide peace of mind that your loved ones will be taken care of if you were to pass away unexpectedly.

This is a type of insurance that provides financial support if you're diagnosed with a covered illness, such as cancer, heart attack, or stroke. This type of insurance typically pays out a lump sum that can be used to cover medical expenses, pay bills, or provide for your family while you're recovering. Critical illness insurance is crucial because it can provide financial security during a difficult time, allowing you to focus on your recovery without worrying about the high costs associated with medical care.

This is a type of insurance that provides financial support if you're unable to work due to a covered disability. This type of insurance typically provides regular income that can be used to cover living expenses, such as rent, utilities, and groceries. Disability insurance is crucial because it can help protect your finances and ensure that you're able to support yourself and your family in case you're unable to work due to a covered disability.

These are types of insurance that help cover the costs of medical and dental expenses. Health insurance typically covers hospital and medical expenses, while dental insurance helps pay for dental procedures and treatments. These types of insurance products are important because they can help ensure that you have access to the healthcare services you need, without having to worry about the high costs associated with medical and dental care.

This insurance provides coverage for unexpected expenses while traveling, such as medical emergencies, trip cancellations, or lost or stolen luggage. It can help protect you from the financial risks associated with traveling and provide peace of mind while you're away from home. Travel insurance is important because it can help ensure that you're covered in case of unexpected events while traveling, which can save you from financial hardship and provide greater peace of mind while enjoying your trip.

This insurance provides financial support to cover the ongoing expenses of a business in case the owner or a key employee becomes disabled. It can help cover expenses such as rent, utilities, and employee salaries, ensuring that the business can continue operating even if the owner or key employee is unable to work due to a covered disability. This type of insurance is important for business owners because it can help protect their business from financial hardship and ensure its continued success.