When Is Permanent Life Insurance A Good Idea? 
Permanent life insurance is a good idea when the death benefit is to be used for funeral costs , when the insured is using life insurance to pass their estate to heirs , when leaving money to a charity , or other purposes which require that the life insurance is in effect at the time of the insured person 's death , even if at a very old age . Permanent life insurance must be used if the desire is for the policy to build up cash value , or if the policy owner wants to have a reduced paid up policy if they ever stop paying premiums . 