The best life insurance to purchase is the one that best suits your life insurance needs, fits your budget, guarantees your protection, and that you qualify to purchase.
The two basic types of life insurance are term and Permanent.
Term life insurance is temporary, usually for a period of 1 to 30 years. Most term life policies are issued with guaranteed rates for a period of 10, 15, 20 or 30 years.
Permanent life insurance provides lifetime protection and may build up some cash value inside the policy over time.
Term life costs a lot less money than permanent life insurance.
If you have a need for life insurance that will last for a period of 30 years or less, then term life insurance may offer you more coverage at a lower cost, and fit your needs.
If you need lifetime protection, permanent life insurance may offer the protection you need.
For more information you can read this article on term life insurance vs permanent life insurance to learn about the benefits and drawbacks of each type of life insurance to help you better understand your options and choose the right plan to meet your needs.
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