Paid up at 65 Permanent Whole Life Insurance
Paid up at age 65 Life Insurance is ideal for both personal and business life insurance planning because it is guaranteed to be fully paid for at age 65, a typical retirement age.
Individuals might use the cash value of this type of life insurance policy (Paid up at 65) to supplement their retirement income. In a business market it might be used to protect against financial loss due to the death of an owner or key employee, or it can fund an employee benefits package.
Like the standard policy, a Paid up at age 65 Life Insurance policy may be increased (subject to underwriting) or decreased as your needs change. Paid up at age 65 Life Insurance is an excellent life insurance plan to have if you want to put a higher level of funds into a plan faster.
You may have good cash flow from your job or your business and can afford to fund your life insurance faster to attain more cash value sooner.