Permanent Life Insurance     Like owning property, owning permanent life insurance is an appropriate way for people to meet long-term needs. Over time, it may be the least expensive form of life insurance since premiums are fixed and it builds cash value, plus the policy owner has less investment decision- making responsibility. This cash value accumulates on a tax-deferred basis.   Traditional Life Term 100 A plan that offers level coverage at guaranteed premiums payable to age 100 when the policy becomes paid up. Traditional Life Term 100 includes cash values and reduced paid-up insurance. All premiums and benefits are guaranteed throughout.