![](/sites/scottmillard.us1.advisor.ws/files/styles/max_325x325/public/images/pwm-life-insurance_2.jpg?itok=Kw6ZD__u)
Permanent life insurance: A tax efficient tool used by many affluent families
When we are young, life insurance is used to protect our family by providing money to replace our income. However, as we approach retirement our need for income replacement lessens and the focus switches to wealth protection. Wealth protection is a permanent concern, so it requires permanent solutions.