What is a key advantage of purchasing permanent life insurance compared to term life insurance?

A key advantage of purchasing permanent life insurance is that the policy lasts for the insured's entire lifetime, provided that premiums are paid. This characteristic offers a sense of financial security and guarantees that a death benefit will be paid out no matter when the policyholder passes away, which can be particularly appealing for those who want to ensure long-term financial protection for their beneficiaries.

In contrast to term life insurance, which provides coverage for a specified period and expires at the end of that term, permanent life insurance does not have a set expiration date. This means that as long as the policy remains in force through the payment of premiums, the policyholder's beneficiaries will receive a death benefit no matter when the insured dies. This lifelong coverage often comes with a cash value component that can grow over time, offering additional financial benefits.

The other options highlight benefits that do not pertain to the fundamental advantage of permanent insurance. While term life insurance might be less expensive for younger individuals in good health, this pertains more to cost rather than the long-term coverage afforded by permanent insurance. The notion of a low-cost strategy for short-term needs is also relevant to term policies, which are designed to meet temporary insurance requirements rather than providing perpetual coverage. Lastly, premiums for permanent life insurance typically