Permanent Life Insurance vs Term

What is the difference between permanent life insurance and term insurance?

Permanent life insurance provides lifetime coverage, offers a death benefit, and builds can value inside your policy from which you may take a loan.

Also, permanent life insurance can cost up to 5-10 times more than term life insurance.

Term life insurance offers temporary protection lasting for up to 30 years. You may be able to buy a term policy lasting for 10, 15, 20, 25 or 30 years.

If you die during the policy term, your beneficiary receives the death benefit. If you outlive the policy term, there is no payout on the life insurance.

Learn more about permanent life insurance versus term life insurance.