Permanent life insurance has taken a back seat to term life insurance, but that doesn't mean there aren't any situations where the long term protection and investment of permanent life insurance isn't valuable.
Because it lasts a lifetime, a permanent policy may also make sense for older people who'll have illiquid estates — like small-business owners — but want to pass on money. The death benefit is often greater than what they'd be able to save.
Check out the full article for more tips. If you're considering life insurance for the first time, you'll also want to check out previously mentioned Life Insurance Primer for Beginners and Understanding How to Calculate Your Life Insurance Needs. Have advice of your own, either from the purchasing or collecting side, about life insurance? Let's hear about it in the comments.