Why Permanent Life Insurance Versus Term? 
My interpretation of this question is , `` What are the advantages of Permanent Life insurance versus Term ? '' Some features offered by some permanent life insurance policies , that are not offered by most term policies , are as follows . Keep in mind that the policy itself , and how the transaction is carried out , can affect whether these advantages are realized . 1 -RRB- Cash value that can be borrowed from in a tax advantaged way , while still retaining the death benefit . 2 -RRB- Cash value that can be collected if the policy is relinquished . 3 -RRB- Lifelong protection . 4 -RRB- Ability to pay the policy in full in a reduced period of time , so that no more premiums are owed . 5 -RRB- Ability to change the policy to a reduced paid up policy , so that no more premiums are owed . 6 -RRB- Ability to put sums of money into the policy to grow in a tax advantaged way . 7 -RRB- No need to renew the policy . 8 -RRB- Guaranteed level premiums for life . 9 -RRB- Possible collection of dividends or increasing face amount . 10 -RRB- Assurance that the policy will be in effect for funeral , burial , estate transfer , estate taxes , and other needs that are permanent in nature . 