You may be wondering, “Are there benefits to permanent life insurance?” Although many skeptics would consider the answer a simple no, there are in fact a host of advantages to whole life insurance. Today, this article will act as your saving grace or superhero in understanding the multitude of permanent life insurance advantages.

Believe it or not, your individual whole life insurance policy slowly (but steadily) increases each year you pay the premium. As long as the policy is in force, you have the ultimate power to cash it in and withdraw the principal you’ve earned.

Let’s assume for a moment that you want to buy a beautiful adobe. You know, a beautiful spacious house with a white picket fence that comes with a golden retriever. However, your wallet is a bit empty and you need the extra change. Well, did you know that you can borrow the value of the down payment on your life insurance? This is a great benefit of permanent life insurance that allows you to borrow against the principal of the policy! This extra money could come in handy in any emergency, like buying your dream home in the suburbs.

Many people try to live to be a century old. If you have this big goal but fail before you reach 100, your beneficiaries will be the next to inherit the face value of your policy. Your beneficiaries are the lucky few selected to receive your insurance benefits after your death. As an added bonus, this inherited money will be passed on to your beneficiaries without them being forced to pay nasty taxes on the sum they receive.

A unique advantage of having whole life insurance is that it can never EVER be canceled unless you don’t provide the premium for the policy. This benefit stays with you even as you age, experience growing pains, and deepen health issues.

A large percentage of the population actually chooses whole life insurance because it helps them save money on a regular basis. The leftover cash they pay in premiums is ultimately invested by the company’s capable hands to receive interest. Like most interest, this interest expands over time and is considered responsible for the monetary value of the policy.

Imagine getting out of bed one morning to find that you are temporarily disabled! This could turn out to be a big hurdle for many. However, if you are lucky enough to be covered by whole life insurance, most companies have a clause that automatically borrows against the policy if you experience a temporary disability. In case you wake up on a cool morning and yell, “I’m temporarily disabled!” the amount of money to be borrowed is enough to pay your premium. Later that night, you can fall into a deep sleep knowing you won’t have nightmares of a coverage lapse.

Comprehensive insurance could quickly become a celebrity among the regular insurance types, so if you think comprehensive insurance is the right insurance for you, hit your insurance agent’s speed dial number and chat with them today about your infinite possibilities of complete insurance. Don’t be a square; get your comprehensive insurance quote today.