A permanent life insurance (such as Universal life insurance, whole life insurance) is what the name suggests: a life insurance cover that lasts for as long as you live. The premiums of a permanent life insurance are understandably higher than term life insurance premiums. Essentially, part of this premium will go to an investment account; so, as well as paying out in the event of your death, it will build up in investment value – which you can actually cash in before you die. The insurance portion of your policy is generally available in two basic formats; level for life, or guaranteed quick-payment options for periods of 10, 15 or 20 years, including guaranteed cash surrender values. Please contact me at (416) 528 1407 to get a personalized quote to you from variety of insurance companies.