What Is A Permanent Life Insurance Policy? 
There are five types of permanent life insurance policies : Participating whole life , guaranteed universal life , current assumption universal life , indexed universal life and variable universal life . Participating whole life and guaranteed universal life are used for indemnification planning . Participating whole life , with a max term rider and paid up additions rider can be used for income as can current assumption universal life , indexed universal life and variable universal life . The income design must conform to TAMRA and minimize the death benefit amount to optimize the crediting methodology . 