Each week we will post and define an industry term or concept for our readers.

Permanent insurance is a form of life insurance that provides lifelong protection for an insured, as long as the premium is paid. Unlike term insurance, which only lasts for a designated period of time, permanent insurance can provide much longer-term coverage. Another important difference of permanent insurance is the ability to accumulate cash value on the policy on a tax-deferred basis.

Please let us know how we may help with your life-insurance questions.