Are Life Insurance Policies Permanent?

How long do life insurance policies last, are they permanent?

It depends on the type of life insurance policy, and if you continue to make your premium payments.

The two basic types of life insurance are term life insurance and permanent life insurance.

Term life insurance is temporary, usually for 1-30 years of coverage.

Permanent life insurance provides lifetime coverage and builds cash value inside the policy.

Each type of life insurance policy remains in force as long as you pay your premiums. However, the term policy coverage expires if your outlive the term, or period, of your life insurance policy.

Learn all about term life insurance vs permanent life insurance

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