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Offices Closed to Public

The Department of Commerce, Community, and Economic Development offices are closed to the public at this time. We are still open for business and encourage you to contact us via phone or email.

Permanent Life Insurance

Unlike term life insurance, permanent life provides protection for the entire life of the insured. As long as you make the premium payments, the policy will pay a death benefit. If the policy lapses, the residual benefit could be less than the total amount of premium paid or there could be no benefit depending on the type of policy and when it lapses.

Premiums for permanent life are higher than term in the early years of the policy. If you do not plan to keep a policy for at least 15 years or more, term insurance may be a better choice.

Interest Earnings and Cash Value

Types of Permanent Life Policies

Here are some common types of permanent life policies.

Whole Life Participating Whole Life Variable Life Universal Life Universal Variable Life