Term vs Perm

Term Life Insurance

When you're shopping for life insurance, you can choose from two basic types of policies: term life insurance or permanent life insurance. Term life insurance policies offer coverage for a specified amount of time, typically anywhere from one to 30 years. Term life insurance offers a death benefit, which is intended to help your beneficiaries replace your income if you pass away. For example, the money can be used to help pay for things like a mortgage, education costs or everyday expenses, such as groceries.

If you're considering buying a term life policy, here's a brief primer on its essential characteristics and benefits.

Permanent Life Insurance

Coverage for life's every moment

Permanent life insurance can provide the security of lifelong protection, a tax-free death benefit and can also build cash value over time. We have three types of policies: whole, universal and variable universal.