What Is Permanent Life Insurance? 
Video Transcript : What is permanent life insurance ? Permanent life insurance could be universal life , it could be whole life , it could be variable life . Any of those 3 are permanent forms . Depending upon how far out you want to go in the maturity date , some of these contracts go to age 100 , some even farther out . Even some guarantee permanent contracts , you can make it small enough in the timeline to actually terminate at age 85 . You want to make sure that if you 're using permanent insurance , you 're telling me that you have permanent financial indebtedness or future obligations that are not going to go away . That 's why we 're not looking at term , you 're looking at permanent forms of insurance to cover indebtedness , future obligation , charitable intent , and to replace a person 's income when they die . 