Permanent (investment) Life insurance
Permanent or investment life insurance provides long term financial protection. Such policies cover events such as retirement or death, which sooner or later will occur. It is usually backed up by funds that build up cash-in value. Its long term nature makes future savings plans easier to achieve. Premiums are usually high because the insurance company will eventually pay you the amount insured. Some policies require you to pay premiums until you die, while with others you pay until a certain age.