Find Best Life Insurance Plans That Transform Your Future
Types of Life Insurance Plans
When it comes to life insurance, there are two primary types to consider: term life insurance and permanent life insurance.
Term life insurance provides coverage for a specific period, typically ranging from 10 to 30 years. It's often more affordable and straightforward, making it an attractive option for individuals seeking temporary coverage to protect against financial liabilities like mortgages or children's education costs1.
Permanent life insurance, on the other hand, offers lifelong coverage and includes a cash value component that grows over time. This type of insurance is more expensive but can serve as an investment vehicle, offering tax-deferred growth and the option to borrow against the policy's cash value2.