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Is Permanent Life Insurance Right For You?

Permanent life insurance provides coverage for your lifetime. There are several types of permanent life insurance, designed to meet different long term financial planning goals. Whether those goals include retirement planning, creating a financial safety net for your family in case something happens to you, donating money to charities or managing your estate, there is a life insurance plan that can be customized to your needs.

Dean Cipriano is independent agent in the Trusted Choice® network who specializes in life insurance and can give you the help you need. Dean works with multiple insurance companies and can help you evaluate a range of plans, options and rates. Contact Dean today at 1-800-220-2323 for help reviewing permanent life insurance and finding the plan that is right for you.

Facts About Life Insurance
  • Approximately 95 million adult Americans have no life insurance
  • Many professionals recommend that you should have at least 10 times your gross annual income as the minimal amount of life insurance coverage
  • The average recommended life insurance coverage is $405,840 dollars
Your specific life insurance needs are unique. Averages and statistics can help you think about what to expect, but Dean Cipriano will help you get a clearer idea of what your coverage should include.

What Is Permanent Life Insurance?

Permanent life insurance provides a way to secure yourself financially in the long-term while also providing insurance protection for your family. This form of life insurance has several important features that are not found in term life insurance.

The main difference between term life and permanent insurance is that term insurance only pays death benefits to your beneficiaries, while permanent life insurance pays out death benefits and accumulates cash value which will continue to build up over the life of the policy.

There are other attractive features of a permanent life insurance policy as well. For example:
  • It can offer life insurance coverage up to age 100.
  • It can be a vehicle for estate planning, trusts, or business planning.
  • It provides a tax deferred cash value accumulation plan.
  • You can choose locked premiums (whole life), or adjustable premiums (universal life) for the life of the policy.
  • You can borrow against a percentage of the accumulated cash value as needed.

Permanent life insurance policies can meet several different financial planning objectives:
  • Provide for long term life insurance needs, even for those who start young
  • Provide your family with replacement income when the primary income earner passes away
  • Cover your mortgage, debts, and funeral expenses
  • Enhance other retirement planning investment strategies
  • Assist with estate and legacy planning
  • Provide cash flow to cover expenses in retirement

Types of Permanent Life Insurance

There are several types of permanent life insurance, but the two most common policy types offer the most options. These are:
  • Whole life insurance
  • Universal life insurance

These life insurance plans have some common features, but there are also some significant differences.

Features of Whole Life Insurance
The main features of whole life insurance include:
  • Tax deferred death benefits
  • Level premiums for the life of the policy
  • Cash value accumulation

Features of Universal Life Insurance
The main features of universal life insurance include:
  • Tax deferred death benefits
  • Flexibility to customize your coverage
  • Options for ways to tailor your premiums

How to Compare Permanent Life Insurance

Permanent life insurance may be the right choice for you if you are looking for the long term planning features these policies offer. To get help assessing your life insurance needs from an unbiased professional, call Dean Cipriano today at 1-800-220-2323. He specializes in life insurance can help you review affordable permanent life coverage from several different insurance companies.
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1-800-220-2323
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Dean Cipriano
Independent Insurance Agent Since 1991

213 West Miner Street
​West Chester, PA 19382

® Copyright 2019
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This information is designed to help you with your decision-making, and it is not intended to provide advice. It is provided solely for research and comparison purposes.
​Contact Dean Cipriano, an independent agent in the Trusted Choice network today for assistance concerning the insurance options that are available to you.
​This site provides quotes on term life insurance. Each quote shown is based on information submitted by you the consumer and the rates supplied by the carriers. By requesting a quote, you agree to Dean Cipriano’s Privacy Policy. By submitting your personal information, you are making a consumer inquiry for a life insurance quote through a licensed insurance agent. You therefore consent and expect to be contacted by Dean Cipriano, a licensed agent via phone, email, text, or direct mail. Dean Cipriano will not sell your information to a third party. Any health or personal information shared will remain confidential and is protected by applicable HIPAA privacy laws and regulations.
 
The following agent license numbers are provided for Dean Cipriano for the following states he is licensed to do business: CO Lic. #58255; CT Lic. #998372; DE Lic. #1094380; FL Lic. #A047613; GA Lic. #2664797; MD Lic. #13846; MI Lic. #369420; NJ Lic. #9361689; NY Lic. #LA-892065; NC Lic. #369420; OH Lic. #1074621; PA Lic. #672987; TX Lic. #2027866; VA Lic. #752864
 
The amount of time it takes to qualify for a life insurance policy can vary by product and company. All applicants are subject to the underwriting guidelines of the life insurance companies they choose to apply. Dean Cipriano advises all proposed insureds not to cancel any existing coverage until they have received their new policy from the insurance company they have applied to and have found it to be satisfactory. If you are applying for new life insurance coverage to replace an exisiting policy that you have now, never ever cancel your existing coverage until your new policy is approved, delivered, paid for and in force.