Permanent Life Insurance for All
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Replacing whole life policy with a better and cheaper permanent insurance policy. Guaranteed!
We’ll help you find the best policy by comparing quotes of 90+ permanent products from 30+ reputable carriers.
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The Right Permanent Life Insurance
Policy Offers Great Benefits
Lifelong & Permanent Protection
The right policy, like guaranteed universal life insurance, provides lifelong, permanent, and guaranteed protection at an affordable price.
Additional Income When You Are Sick
If you are terminally ill or chronically ill and require long term care, permanent policy provides additional income taken from death benefits.
Cash Value Account Growth - Income Tax Free
Indexed or variable universal life policy comes with a cash value account that grows like an investment account. Even better, you can withdraw money from a cash value account, income tax free.
Flexibilities
All universal life policies offer great flexibility such as increasing, decreasing, or even skipping premiums. It is also easy to withdraw when you need the money.
The Power of Three
Universal Life Insurance Products
The three universal life insurance products: GUL, IUL, and VUL offer unique advantages for all of your permanent needs from protection to supplementing tax-free income.
Guaranteed universal
life insurance
(GUL)
If you are only interested in having guaranteed permanent death benefits for your loved ones when you pass away, guaranteed universal life insurance (GUL) is the best choice at an affordable price.
Indexed universal
life insurance
(IUL)
If you are interested in maximizing your cash value account by investing in indexes and withdrawing tax-free money to supplement your income, indexed universal life insurance (IUL) is a great product.
Variable universal
life insurance
(VUL)
Similar to IUL, variable universal life insurance product (VUL) is a great option if you want to grow the cash value account in your policy more aggressively by investing in different types of assets.
Permanent life insurance policies
for people of all walks of life
Moon – 37 years old, nail salon manicurist, living in Washington DC
Replacing a whole life policy with Indexed Universal Life Policy. Reduce the premium payment period to 23 years only (instead of the rest of life). Much better cash distribution to supplement retirement income. Pay $220 a month for 23 years. Receive $13,600 cash distribution a year, tax free, for 30 years, from 61 to 90 years old.
Moon, 37 years old, female, nail salon manicurist, income of $40-50K a year; excellent health.
– She wants to invest in a permanent life insurance policy from which she can withdraw cash to supplement her retirement income when she retires at 60. She has owned a whole life policy for 4 years.
– Her whole life policy is by MassMutual. It offers $200K guaranteed coverage and she pays $220 a month for the rest of her life. Currently, there is $3,500 in the cash value account of the policy.
– After shopping with 30+ carriers and their 90+ permanent products, we advised her to switch to an Indexed Universal Life Insurance policy of Allianz Life (Life Pro+ Advantage product). She will still pays $220 a month. However, she only pays until she reaches 60 years old (23 years).
– She will able to withdraw up to $13,600 a year, tax free, for 30 years, from 61 to 90 years old, based on the illustration of the policy.
-If she passes away at 91 years old, her beneficiary can still receive $37K death benefit, tax free.
Emma, 40 years old, a product marketing manager living in San Francisco.
Indexed Universal Life Insurance Policy to provide tax-free cash distribution to supplement retirement income. Pay $500 a month for 20 years (40-60 years old). Receive up to $32,605 a year, tax free, for 25 years, from 66 to 90 years old.
Emma, 40 years old, a product marketing manager living in San Francisco, income of $165K a year; good health. She wants to invest in a permanent life insurance policy with a purpose to withdraw cash from it to supplement her retirement income when she reaches 65 years old.
She plans to pay $500 a month in premium until she reaches 60 years old (20 years) and wants to withdraw the maximum cash distribution from the policy when she is 66 to 90 years old (25 years). She also wants to have access to cash income if she becomes terminally or chronically ill or requires long term care.
After shopping with 30+ carriers and their 90+ permanent products, we find and recommend Emma to choose between two best products:
- Allianz Life with its Pro+ Advantage product – she can withdraw up to $32,605 a year, tax free, from 66 to 90 years old (25 years). If she passes away when she is 91 years old, her beneficiary can receive up to $75,500 death benefit as well. These are based on the illustration of the policy.
- Penn Mutual with its Accumulation Builder Flex IUL product offers annual distribution up to $28,760, tax free, from 66 to 90 years old. If she passes away at 91, her beneficiary can receive up to $95,000 in death benefit.
Chris, 36 years old, an engineer, lives in Dallas, TX with his wife, and 2 kids.
Guaranteed Universal Life Insurance Policy provides lifelong permanent guaranteed death benefit at reasonable price (55%+ cheaper than whole life policy). Pay $281 a month for 25 years (36-60 years old) to have permanent guaranteed protection of $500K death benefit.
Chris, 36 years old, an engineer, in good health, lives in Dallas, TX with his wife, Hanah, 31 years old, a teacher, and their two kids, David and Tess, aged 6 or 4. Chris makes $120 a year. He wants to have a permanent life insurance policy of $500K to provide protection for his family when he passes away. He wants to pay premiums for 25 years only, until he reaches 60 years old.
– If he passes away early, the policy’s payout needs to be able to pay off their mortgage ($300K) and their children’s college tuition ($100K each).
– If he passes after the mortgage has been paid off, the policy’s payout will be for Hanah’s retirement expenses and helping with their children’s first home.
Like everyone else, he is concerned that a whole life policy is just so expensive and he can’t afford it, which is true:
- Penn Mutual whole life policy, the cheapest whole life policy that we could find, offering guaranteed death benefit of $500K costs $7,470 a year in premium or $622.5 a month. (pay premiums for 25 years only)
After shopping with 30+ carriers with their 90+ permanent life products, we were able to find a policy that meets Chris’s needs and at a price that he can afford. Prudential’s PruLife Universal Protector policy offers guaranteed permanent lifelong death benefit of $500K and it costs $3,371 a year in premium, or $281 a month. (pay premiums for 25 years only)
The premium is 55% cheaper than the cheapest whole life policy for similar benefit.
Bob, 73 years old, retired, and living in Florida.
Replacing an existing Whole Life policy with a Variable Universal Life policy . Stop paying premium. Higher guaranteed permanent death benefit. Faster cash value growth.
Bob is 73 years old, retired and living in Florida. He has had a whole life insurance policy for 40 years with face value of $250,000. He pays $2,200 a year. If he wants to keep the policy, he has to pay premiums until he passes away or reaches 100 years old. At age 73, the cash value account in his policy is $172,000.
Now he is retired and on fixed income, he realizes that he might not be able to keep up with annual premium payment. He wants to explore what options he has if he doesn’t want to pay premiums anymore. Ideally, he wants to replace with another policy that provides similar guaranteed lifelong permanent coverage and doesn’t require him to pay premium anymore.
After shopping with 30+ carriers and comparing their 90+ permanent products, we a much better product for him. We recommended Lincoln VULOne product from Lincoln Financial, a variable universal life insurance product, which will provide him with $309,000 guaranteed death benefit up to 100 years old, regardless how the cash value account performs. And he doesn’t need to pay premium anymore for the rest of his life.
Since this is a variable universal life insurance product, he will also have access to the cash value account. Based on the illustration of the policy, the cash value account is $199K when he is at 80 years old; $249 at 85 years old; $325 at 90 years old; and $552K at 100 years old.
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