At a glance
What it isA payment to the people you choose if you die.MoreLess
Term covers you for a set number of years. Permanent covers your whole life and can build cash value over time.
What you getMoney to replace your income, pay the mortgage or cover debts.MoreLess
The payment goes to your beneficiaries. They can use it for rent, school, a business, or anything else.
Good ifPeople depend on your income, or you have a mortgage or debts.MoreLess
Self-employed people often have no life coverage through a job, so it matters even more.
Keep in mindYour age and health set the price, and term coverage ends when the term does.MoreLess
When a term is over, the coverage stops unless you renew or convert, often at a higher price. Permanent coverage costs more each month than term.