Definition: The word "life insurance permanent" refers to an insurance policy that guarantees a fixed payment or benefit to an individual upon the death of their loved one, regardless of whether the person had previously received benefits from another insurance policy. This can be used in a variety of situations, such as when someone is entitled to receive a certain amount of money based on their life expectancy and health status, or when they are considering purchasing life insurance for their children or grandchildren. The term "life insurance permanent" is often seen in the context of pre-employment or extended-life policies, but it can also be used in more general terms. In some cases, an individual's life insurance policy may be called a "life insurance life annuity," which is a type of guaranteed benefit that pays out money when an insured person dies. The specific definition and requirements for a permanent life insurance policy will vary depending on the country or jurisdiction you are considering. Typically, it will include coverage for various aspects of health, such as medical expenses related to serious illnesses or disabilities, and for death benefits, which may be paid in lump sums or over the course of several years. Additionally, policies may have restrictions on when and how the money is paid out, such as whether it must be used immediately upon a claim or if there are specific conditions under which the payments can be suspended. It's important to note that while life insurance policies may provide financial security for an individual who has passed away, they do not guarantee their ability to pay back any outstanding debts. It's always best to consult with a financial advisor or legal professional before purchasing any type of insurance policy.

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