Term life insurance provides you with temporary protection usually lasting yup to thirty years.
However, you may be able to choose a duration of coverage for a Policy term of 10, 15, 20, 25 or 30 years.
Term life is death benefit protection only, there is no investment feature or cash value inside the policy.
Permanent life insurance provides you with guaranteed lifetime protection, as long as the premiums are paid on time.
Permanent life provides a death benefit and may be up some cash value inside the policy over time, from which you may take a loan if needed.
Permanent life insurance usually costs up to 5-10 times more than term life insurance coverage.
Learn more about permanent life insurance versus term life insurance policies.