Which type of life insurance is better and why - Term Life or Permanent Life Insurance?
That depends on what your goals are - what you want your life insurance to accomplish, and how long you need life insurance.
If you need life insurance for a period of 30 years or less term life insurance offers an affordable option with coverage available for a "term" of 1, 5, 10, 15, 20, 25 or 30 years.
Whereas, permanent life insurance (also known as whole life insurance) provides lifetime coverage with rates that remain the same for the entire duration of your life insurance policy.
However, keep in mind, permanent life insurance costs a lot more than term life because term life is temporary and builds no cash value inside the policy. And, some people may outlive the term of a term life policy, so there would be no death benefit paid out on that policy.
Here's how you can learn more about permanent versus whole life insurance