If you are considering a life insurance purchase, you may have heard the phrases “term life insurance” and “permanent life insurance.” While the purpose of both is to provide your loved ones with financial support in the event of your death, how the policies are structured and the types of benefits they provide are quite different. Your Yuba City insurance expert is your best source of information on the two types of policies, but here’s a brief overview.
Term life insurance
Term life insurance covers you for a period of time (the “term”) rather than your whole life. It does not accumulate any cash value as you make your payments, and consequently it tends to be more affordable than permanent life insurance. When you apply for a policy, the provider will consider factors like your age and your health.
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