There are a few basic differences between term and non term:
- Cost
- Flexibility
- Ease of understanding
Term life is temporary coverage offering the lowest prices on life insurance for a period of up to 30 years. It is not an investment, and builds no cash value inside the policy - it is pure life insurance protection.
With term life you have the flexibility of choosing life insurance for a duration of 10, 15, 20 or 30 years to meet your specific life insurance needs.
And, it costs a lot less than non term life insurance which provides lifetime protection, builds cash value and has level premiums for the entire duration of your non term (permanent or whole) life insurance policy.
Here's how you can learn more about term vs non term life insurance.