If you need for life insurance is to have protection for a period of 30 years or less, then a term life insurance policy may offer the best protection at an affordable price.
If you need guaranteed lifetime protection no matter how old you live to, then a permanent life insurance policy would be a better option.
Term life and permanent life are the two basic types of life insurance policies.
Term life is temporary protection for a period of 30 years or less with guaranteed level rates.
Permanent life insurance has level premiums and the protection is for your entire lifetime, as long as the premiums are paid on time.
Term life is pure life insurance protection, while permanent life insurance may build up some cash vale inside the policy over the years.
Term life has the lowest rates which means you can afford to buy more term life insurance than permanent life insurance.