Here’s When You Should Buy Term Insurance Over Permanent Life Insurance…
When shopping for life insurance, you need to figure out whether you want to get term life insurance or permanent life insurance. If you want to save money, term life insurance is the way to go. Keep in mind, term life insurance does not offer a savings component, so all the money goes towards insuring your life.
Permanent life insurance lasts a lifetime, which is different from term life insurance. Term life insurance lasts 10 to 20 years.
Image via Insurance Information Institute.