The Importance of Permanent Insurance

Permanent insurance is a very unique product in the financial realm that should be called permanent. The definition of permanent is absolutely positively going to be there, no matter when the event occurs and death in this case, permanent. Whole life has two components: One is the death benefit, same that we've been talking about; the other is the cash value. It's a very conservative asset. It grows at about 4% these days. And after the cost of running the mutual company, it is typically dividend paying.