Term insurance covers you for a set period, such as twenty years, and usually costs less at the start. Permanent insurance is designed to last your whole life and may build cash value, but premiums are higher.
Term often suits a temporary need, like a mortgage or years of raising children. Permanent can suit lasting needs such as estate planning or certain business uses. Many plans combine both. See our guide to life insurance for a side-by-side comparison, then talk to us about your situation.
