M&T Bank : Permanent Life Insurance
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Permanent Life Insurance

Permanent life insurance is designed to offer lifetime coverage and does not expire after a pre-specified term. The policy remains in force as long as required premiums are paid based on contract illustration. Some types of policies may offer a cash value accumulation feature.

The types of permanent life insurance you may want to consider are:

  • Whole Life: Fixed premium payments, guaranteed death benefit and cash value accumulation
  • Universal Life: Flexible premiums, adjustable death benefit and in some cases cash value accumulation; can be tailored to your financial and insurance needs and changed when your circumstances change, without having to buy a new policy.
  • Variable Life: Death benefit and cash value can increase over time if underlying policy investments perform well; policy owner can choose from sub accounts that offer varying degrees of risk.
  • Single Premium Life: Entire premium is paid at purchase (no future premium payments); some policies may offer cash value accumulation or guaranteed premiums. May be used for asset or wealth transfer purposes.

Benefits of a Permanent Life Insurance Policy
Permanent Life Insurance may offer the following advantages:

  • The option to build cash value tax-deferred and death benefits paid to the beneficiaries are income tax-free to the beneficiaries
  • If properly structured, life insurance policies may be excluded from your taxable estate
  • Designed to offer lifetime coverage; the policy remains in force as long as premiums are paid or there is adequate value in the policy to continue paying the cost of insurance
  • The younger and healthier you are when you purchase your policy, the lower the annual premium may be
  • Some policies offer riders or options that provide additional benefits, such as Long Term Care coverage

Common Uses of Permanent Life Insurance
Permanent Life Insurance may be used to help:

  • Fund the living expenses of surviving family
  • Ensure your family is able to keep your home and other assets
  • Fund estate planning

If needed, you can use your policy as collateral for a loan or if it has a cash value accumulation feature you can borrow against the cash value.*

Contact Us
Want to request an insurance quote? “Get Started” on securing your permanent life insurance policy personal or business needs online, or call us at 1-800-724-9949 to schedule an appointment with one of our life insurance representatives. You can also stop by your nearest M&T branch to learn more.

* Cash value of a life insurance policy should not be considered an investment.  Any partial withdrawals or a loan that you do not pay back reduces the death benefit.  Loans or withdrawals in excess of the premiums you paid may be taxable. If your policy lapses with a loan outstanding, the amount of the loan may be considered taxable to you.

Investment and Insurance Products: • Are NOT Deposits • Are NOT FDIC-Insured • Are NOT Insured
By Any Federal Government Agency • Have NO Bank Guarantee • May Go Down In Value

Brokerage services and insurance products are offered by M&T Securities, Inc. (member FINRA/SIPC), not by M&T Bank.
M&T Securities, Inc. is licensed as an insurance agent and acts as agent for insurers. Insurance policies are obligations of the insurers that issue the policies. Insurance products may not be available in all states.
The content of this page is for informational purposes only and is not intended to offer any tax, legal or financial advice. Please consult with the professionals of your choice to discuss your situation.
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