Permanent Life Insurance


Invest In Lifelong Protection.

Help ensure that your loved ones will be able to meet their financial goals and responsibilities if something were to happen to you. Permanent life insurance can provide lifelong protection and build cash value that can help protect your family in the future. Many policies offer guaranteed minimums for your cash value growth. Allstate agents offer three different types of permanent life insurance policies:

  • Whole Life: Whole life insurance is the most basic type of permanent life insurance. It provides coverage throughout your life—as long as your premiums are paid—and has an investment component known as your policy's cash value. This cash value will increase regardless of market conditions. Additionally, your premium payments are guaranteed to stay the same throughout the life of the policy.
  • Universal Life: A universal life insurance policy is similar to a whole life insurance policy that has a simple savings component that can build your cash value by earning interest. Additionally, your policy's cash value is tax-deferred. Universal life insurance also offers the flexibility—with underwriting approval—to change your plan and payments as your needs change.
  • Variable Universal Life: Much like a universal life insurance policy, variable universal life insurance offers potential lifelong protection and a cash value that can build over time. However, a variable universal life insurance policy allows you to invest your cash value in options. While this type of policy has more financial risk, it also comes with the potential for greater financial reward.

An Allstate personal financial representative can help you understand the different types of permanent life insurance policies and answer any questions you have.

The Difference Between Term Life and Permanent Life.

There are two major differences between term life insurance and permanent life insurance. Understanding how each kind of policy works can help you make a decision about what works for your unique needs.

  • Term life insurance offers protection for a finite period of time (10 to 30 years), while permanent life insurance policies offer potential lifetime protection.
  • Permanent life insurance includes a cash value element and term life insurance does not. Permanent life insurance typically costs more than term life insurance. Often people purchase as much permanent life insurance as they can afford and then supplement their life insurance needs with a term policy.

An Allstate personal financial representative can help you understand the difference between different types of life insurance and answer questions to help you decide what's right for your family.

The Perks Of Permanent Life Insurance.

Permanent life insurance not only helps protect your family, but it can also serve as protection for the future. A few benefits of term life insurance include:

  • Lifelong protection: Permanent life insurance policies can last a lifetime, as long as your payments are made.
  • Cash value: Permanent life insurance policies can accumulate cash value over time, which can be made available to you through policy loans and withdrawals if needed.1
  • Tax exemptions: Any payments your beneficiary receives, known as death benefit proceeds, are generally exempt from federal taxes.2
  • Policy options: You can choose from different types of permanent life insurance policies: whole life, universal life and variable universal life.

Talk to an Allstate personal financial representative to learn more about permanent life insurance.

1 Partial withdrawals and surrenders from life policies are generally taxed as ordinary income to the extent the withdrawal exceeds your investment in the contract, which is also called the "basis." In some situations, partial withdrawals during the first 15 policy years may result in taxable income prior to recovery of the investment in the contract. Loans are generally not taxable if taken from a life insurance policy that is not a modified endowment contract (MEC). However, when cash values are used to repay a loan, the transaction is treated like a withdrawal and taxed accordingly. Unpaid interest on loans is added to the loan principal, thereby increasing the total debt on the policy. The combination of an increasing loan balance and deductions for contract charges and fees may cause the policy to lapse, triggering ordinary income tax on the outstanding loan balance to the extent it exceeds the cost basis in the policy. Loans, if not repaid, and withdrawals reduce the policy's death benefit and cash surrender value.

2 The death benefit of life insurance policies that were transferred for value may be subject to ordinary income taxes. Estate taxes may apply. Consult your tax advisor for additional information.

Important information about variable universal life insurance.

Since cash value depends on the performance of the subaccounts you choose, there is the potential for losing cash value, which could cause your policy to lapse.

Variable universal life insurance policies carry annual insurance company mortality and expense risk charges, withdrawal charges in the early years, and administrative fees. Individual features may be offered at an additional cost. The value of a variable universal life insurance policy will fluctuate with the investment performance of the underlying subaccounts and may be worth more or less than the original investment.

Management fees and/or other expenses also apply on an ongoing basis for each subaccount investment portfolio available under the policy. Please see the prospectus for more details concerning any applicable fees and each subaccount investment portfolio's expense.

Variable universal life products are long-term investments designed to provide life insurance protection and flexibility in connection with premium payments and death benefits. You should carefully consider the investment objectives, risks, charges, and expenses of the investment alternatives before purchasing a policy. These policies have limitations and are sold by prospectus only. The prospectus contains details on the investment alternatives, policy features, the underlying portfolios, fees, charges, expenses, and other pertinent information. To obtain a prospectus or a copy of the underlying portfolio prospectuses, please contact Lincoln Benefit Life Company or go to accessallstate.com. Please read the prospectuses carefully before purchasing a contract.

Neither Allstate nor its agents and representatives can give legal or tax advice.

Securities offered by Personal Financial Representatives through Allstate Financial Services, LLC (LSA Securities in LA and PA). Registered Broker-Dealer. Member FINRA and SIPC. Main Office: 2920 South 84th St., Lincoln, NE 68506, 877-525-5727.

This information is provided for general consumer educational purposes and is not intended to provide legal, tax or investment advice. Life Insurance offered through Allstate Life Insurance Company, Northbrook, IL; Allstate Assurance Company, Northbrook, IL; Lincoln Benefit Life Company, Lincoln, NE and American Heritage Life Insurance Company, Jacksonville, FL. In New York, life insurance offered through Allstate Life Insurance Company of New York, Hauppauge, NY. All guarantees are based on the claims-paying ability of the issuing insurance company.

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