What is the differences between term insurance and permanent insurance?

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

To start, term insurance provides temporary life insurance coverage.

Term life plans are available for a term, or period of time, of 10, 15, 20, or 30 years.

Term life insurance builds no cash value inside the policy, it is not an investment.

Term life insurance usually costs a lot less than permanent insurance.

Permanent life insurance provides lifetime coverage as long as you pay your premiums. It may build cash value inside the policy which is one reason it costs more than term insurance.

many young families, home owners, and people on a budget choose term life insurance because it offers a lot more life insurance at a lower price.

Here's how to learn more about term life insurance vs permanent life insurance and find out which type of life insurance may be right for you.

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