The choice between term and permanent life insurance is one of the most important financial decisions you'll make. Here's a side-by-side comparison to help you decide.
| Factor | Term Life | Permanent Life |
|---|---|---|
| Coverage Duration | Fixed period (10–30 yrs) | Lifetime (as long as premiums paid) |
| Monthly Cost | Low | Higher |
| Cash Value | None | Yes (grows tax-deferred) |
| Flexibility | Low | Higher (some products) |
| Best For | Income replacement, mortgages, young families | Estate planning, legacy, tax strategy, permanent need |