Permanent life insurance policies offer a death benefit and cash value. Cash value is a separate savings component that you may be able to access while you're still alive. Permanent life insurance lasts from the time you buy a policy to the time you pass away, as long as you pay the required premiums. There are several variations of permanent life insurance: whole life, variable life, universal life and indexed life are the most common types. We're even able structure a permanent policy with little to no cash value which provides a "term for life" type program.