I want to buy life insurance but I'm not sure if I should get term or permanent life insurance.
When it comes to choosing your life insurance plan you'll want to consider what your goal is - what do you want your life insurance to accomplish, and how long do you need the coverage?
If you have a need of life insurance for a period of 30 years or less, then a term life insurance plan will be the most affordable way to accomplish your goal.
If you have a lifetime life insurance need, then a permanent life insurance plan may be right for you.
However, term life policies may be converted to permanent life insurance for an increase in the premium charged.
Also, you can own more than one life insurance policy, so you could purchase a term life insurance policy for your short term needs of 30 years or less, and permanent life insurance policy for your longer term needs. This may be the most affordable approach to accomplish all of your goals for your life insurance plan.
Learn more about term life insurance versus permanent life insurance