What is the difference between Term Life and Permanent Life Insurance?

<p><strong>Term life insurance differs from permanent life insurance in several ways</strong> but tends to best meet the needs of most people looking for affordable life insurance coverage. <strong>Term life insurance only lasts for a set period and pays a death benefit</strong> should the policyholder die before the term has expired.</p><p>Meanwhile, <strong>permanent life insurance, stays in effect as long as the policyholder pays the premium</strong>. Another critical difference involves premiums: term life is generally much less expensive than permanent life because it does not accumulate cash value.</p>

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