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Overview of Term & Permanent Life Insurance

When looking for life insurance, there are two main types of policies to consider - term and permanent. Both have their own unique features and benefits, so it’s important to understand the difference between the two in order to make an informed decision on which type is best suited to you and your family’s needs.


Term life insurance provides coverage for a specified period of time (typically 10 or 20 years). The policy will pay out a lump sum benefit if you pass away during this period, giving your loved ones financial security even if something unexpected were to happen. This form of insurance is often more affordable than permanent life insurance and may be suitable for those with short-term needs, such as families with young children who are not yet self-sufficient or those with high debt levels who want to provide a safety net until they’re able to pay down their debts.


Permanent life insurance, on the other hand, offers lifelong protection as long as the premiums are paid. Not only does this type of policy provide financial coverage should something unexpected happen, but it also builds up cash value over time that can be used as an investment tool. This makes it a great option for those who want both the assurance of long-term protection and additional financial resources down the line.


When deciding which type of life insurance policy best suits your needs, take into consideration factors such as age, health, lifestyle, income and debt levels - all of which will affect how much coverage you require and what type of policy would most benefit yourself and those who depend on you. With the right preparation and research and guidance from me, finding the right life insurance policy can give you peace of mind no matter what happens in the future!



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