All sorts of reasons. First of all, if you get a permanent policy when you’re young, it’s very affordable. Plus, it’ll last forever, in contrast to a term life policy that will finish at some purpose and you won’t have any life coverage left.
Then there’s the entire money price accumulation facet to the current coin. You can watch it grow and ne’er bit it till you’re desperate, you’ll borrow against it, OR you can surrender the value and cash it out entirely—that’s all up to you. Plus, your policy is non-taxable till you withdraw funds from the money facet of your policy. But, if you “borrow” a bit of money, it is NON-taxable, same as when the death benefit is paid out—NO TAXES!
In all honesty, it’s just important that you have life insurance. ANY life insurance. The type of insurance that’s right is different for everyone. If it’s solely vital for concerning twenty years till the youngsters are out of the house and your mortgage is finished, then a term policy might be better for you. Or if you’re young, want to take advantage of low premiums, and want a policy that you can just get and forget, perm may be your golden goose.
Whatever your story, one of our independent insurance agents can help answer your questions and help you make the right call for you.