Before you choose a policy, consider both term and permanent life insurance.
Each type of life insurance offers you different benefits.
For instance, term life insurance is the cheapest type of life insurance and provides coverage for up to 30 years. Since the rates are lower than permanent life insurance, you can afford much more life insurance protection.
On the other hand, permanent life insurance offers lifetime coverage, as long as you pay the premiums. And, it may build some cash value inside the policy over time.
Many young families, people with a mortgage, and those on a budget prefer term life insurance since it offers the most affordable protection.
However, those who need lifetime protection usually buy permanent life insurance, or choose to get a term policy and a permanent life insurance policy to meet all of their life insurance needs.
Here's how you can learn more and compare term life insurance vs permanent life insurance and review the advantages and disadvantages of both types of life insurance.