There are many forms of permanent life insurance.

1. Term to Age 100 is a fixed guaranteed premium for life.

2. Whole Life offers several types of permanent coverage.
a. Whole life Non Participating is a permanent insurance coverage with guaranteed cash values but does not participate in the earnings of the insurance company. Premiums usually are payable for life but some Whole Life Non Participating policies have limited premium payment periods.
b. Whole Life Participating insurance is permanent coverage with guaranteed cash values and participates in the earnings of the insurer by receiving dividends. These dividends can be left to accumulate, used to purchase additional coverage, or applied to reduce the premium payment period.

3. Universal Life is a flexible permanent insurance coverage. This policy has two components; a guaranteed cost of insurance (COI) charge, and tax sheltered investment options:
a. There are 2 choices of COI charges; Yearly Renewable charges and Level charges.
b. There are various death benefit options such as Level Death Benefit, Death Benefit Plus Investment Value, Death Benefit Plus Return of Premium, etc..
c. Premiums can be set up based on a level Minimum Premium for life or can be paid over a limited premium period based on the rate of return of various investment funds.
d. The investment part offers a choice of many investment types ranging from Money Market, GIC Funds, Bond Funds, Equity Index Funds, and Managed Equity Funds, or any combination of these. Earnings from these investments are tax sheltered.