What does "permanent life insurance" provide to the policyholder?

Permanent life insurance provides lifelong coverage to the policyholder as long as the required premiums are paid. This type of insurance also includes a cash value component, which accumulates over time. This cash value can be accessed by the policyholder through loans, withdrawals, or even as a surrender value if the policy is terminated.

Unlike term life insurance, which offers coverage only for a specified period and does not build cash value, permanent life insurance ensures that the policy remains in effect for the insured's entire life, providing long-term financial protection. This makes it an essential product for individuals looking for not only life coverage but also an investment or savings element that adds to their financial security over time.