Main Menu Country: United States | English Secure Login Find a Financial Advisor Permanent life insurance If you have long-term needs and the cash to pay the annual premiums, permanent life may be right for you. Life insurance is a vital part of any financial strategy. The type you choose will depend a lot on your goals. If those goals include having coverage that lasts your entire lifetime, permanent insurance might be the best choice for you. Unlike term life insurance, which only covers you for a specific time frame (typically 20 years or less), permanent insurance stays in force for life—as long as you continue to pay the premiums. How it works With permanent life insurance you can transfer a death benefit to your beneficiaries free from federal income taxes. Some plans also allow you to build equity, or cash value, on a tax-deferred basis. This type of life insurance is best suited for individuals or business owners with long-term life insurance needs. How much you need The amount you need really depends on your financial goals. No two individuals' life insurance needs are the same. Your financial advisor will look at your entire financial picture to help you calculate the right amount for your situation. Factors could include: What you've already saved, what you're trying to save and what you want to leave behind. Over time your needs and goals will change. Even if you have coverage in place today, it's important to review it with your financial advisor periodically, particularly after the addition of a child, change in marital status, a change in home ownership or when changing jobs if your policy was provided through your employer. What you can expect to pay Because of the lifetime benefits it provides, permanent insurance can be three to five times higher, on average, than a term policy. The primary reason for this is that unlike term life insurance, which only covers you for a set period of time, with permanent insurance you have coverage for as long as you pay your premiums. The amount you pay can be based on your age, gender, health and the type and amount of coverage you choose. Permanent insurance premiums are generally level, and expenses of the policy are typically balanced out after 20 years. What type do you need Universal life, variable life, whole life … many different types of permanent insurance are available. So which one is right for you? It all depends on your situation. Here's a quick overview of some of the different types of life insurance policies Edward Jones offers. Type Universal Life Guaranteed Universal Life Variable Universal Life Guaranteed Variable Universal Life Guaranteed Death Benefit No Yes No Yes Can Build Cash Value Yes No Yes Yes Flexible Premiums Yes No Yes No Potential Risk/ Reward Greater No No Yes Yes Why permanent life insurance from Edward Jones Each type of life insurance offers benefits and trade-offs. What's appropriate for you will depend on your long-term goals. That's why it's important to work with someone who spends time getting to know you. Contact your local Edward Jones financial advisor for more information about the permanent life insurance policies Edward Jones offers. We'll walk you through all of your options so you can make the right choice for your situation. Back to page content Explore more Your guide to choosing life insurance Life insurance calculator: How much do you... Is life insurance through work enough? Find a Financial Advisor Name or location (city, state or ZIP) Search Results Back to page content Important Information: Edward Jones is a licensed insurance producer in all states and Washington, D.C., through Edward D. Jones & Co., L.P., and in California, New Mexico and Massachusetts through Edward Jones Insurance Agency of California, L.L.C.; Edward Jones Insurance Agency of New Mexico, L.L.C.; and Edward Jones Insurance Agency of Massachusetts, L.L.C. Market Data DJIA 34,899.34 (-905.04) S&P 500 4,594.62 (-106.84) NASDAQ 15,491.66 (-353.57) Disclosures News and Media Careers Resources for CPAs and Attorneys Client Relationship Summary Client Resource Center Follow us to stay up to date Feedback Privacy and Security Center Ad Choices Revenue Sharing (pdf) Accessibility Policy Copyright © 2021 Edward Jones. All rights reserved. Member SIPC. This site is designed for U.S. residents only. The services offered within this site are available exclusively through our U.S. financial advisors. Edward Jones' U.S. financial advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.