Is permanent life insurance the right coverage for you? This type of insurance can stay in force for your entire life; however, premiums must be paid in full consistently. Usually, permanent life insurance builds cash value for you which you are able to use later on in life. If you are concerned with providing income to someone who has lost a spouse, retiring from their career, or wishes to pass wealth on to a future generation, permanent life insurance would be best suited for you. Address your long-term goals and concerns; begin looking at permanent policies.