What is the Difference Between Term and Permanent Life Insurance?

Know the Difference Before You Sign Up

“Hey, Alan! I don’t know much about life insurance. What is the difference between term and permanent life insurance?”

KEY TAKEAWAYS

  • What is the difference between term and permanent life insurance? Life insurance comes in many forms, with two of the most common being term and permanent
  • Term life insurance allows you to set the length of your policy ahead of time (20 years, 30 years, etc.). Benefits are paid to your designated beneficiaries if your death occurs within that specified period of time that you set. These are amongst some of the most cost-effective life insurance policies.
  • Permanent life insurance provides coverage throughout the entire life of the policyholder. Your beneficiaries will receive benefits regardless of when you pass away. While premiums may fluctuate, these policies come with great tax benefits.
What is the Difference Between Term and Permanent Life Insurance? - Alan McDaniel Agency

Hey again, confident planner! I’m glad to see that you’re thinking about life insurance. It’s a great way to guarantee the financial security of your loved ones. When you invest in life insurance, you won’t have to worry about how your family will make it in life without you. Your loved ones will be able to lean on your life insurance benefits after you’ve passed away, and you won’t have to worry about leaving your family out in the cold when you’re no longer there to provide for them. So, what kind of life insurance is right for you? What is the difference between term and permanent life insurance? Are either of these policies right for you and your family? Let’s talk about it.

New to this blog series? Welcome! My name is Alan McDaniel. I’ve been a certified insurance professional for over 20 years, and I love helping people make better insurance decisions. So, let’s talk about life insurance. What is the difference between term and permanent life insurance, and how do you know which is right for you? Let’s break it down further, and then I’ll tell you how you can start comparing policies with a professional for free.

 

What is the Difference Between Term and Permanent Life Insurance? - Alan McDaniel Agency
What is the Difference Between Term and Permanent Life Insurance? – Alan McDaniel Agency

Hey again, confident planner! I’m glad to see that you’re thinking about life insurance. It’s a great way to guarantee the financial security of your loved ones. When you invest in life insurance, you won’t have to worry about how your family will make it in life without you. Your loved ones will be able to lean on your life insurance benefits after you’ve passed away, and you won’t have to worry about leaving your family out in the cold when you’re no longer there to provide for them. So, what kind of life insurance is right for you? What is the difference between term and permanent life insurance? Are either of these policies right for you and your family? Let’s talk about it.

New to this blog series? Welcome! My name is Alan McDaniel. I’ve been a certified insurance professional for over 20 years, and I love helping people make better insurance decisions. So, let’s talk about life insurance. What is the difference between term and permanent life insurance, and how do you know which is right for you? Let’s break it down further, and then I’ll tell you how you can start comparing policies with a professional for free.

So, what is the difference between term and permanent life insurance?

Two of the most popular kinds of life insurance are term and permanent life insurance policies.

 

  • Term life insurance is a policy that offers coverage throughout a specified period of time. When you first sign up for a term life insurance policy, you set the length of the policy (20 years, 30 years, etc.). Benefits will then be paid to your beneficiaries if you pass away within that specified time period. These are highly cost-effective policies, making them a pretty popular choice.
  • Permanent life insurance, on the other hand, offers coverage throughout the entire life of the policyholder. Your beneficiaries will receive benefits regardless of when you pass away. These policies aren’t quite as cost-effective, and their premiums can fluctuate. However, these policies do come with amazing tax benefits.

How do you know which policy is right for you? Let’s compare policies for free!

Choosing the right life insurance policy can be stressful. Why not make it easier (and better yet, free)? Like I mentioned earlier, I’ve been a certified insurance professional for over 20 years. I’d be happy to help you weigh your best options for life insurance. Request a free consultation today, and let’s start comparing policies!

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