Question:
❓What’s the main difference between term and permanent life insurance?
A) Term insurance is cheaper and permanent is more expensive
B) Term lasts for a set period, permanent lasts for life
C) Permanent builds cash value, term doesn’t
D) All of the above
Answer:
✅ D) All of the above
Here’s why:
But here’s the real difference that matters: term insurance is like renting protection. Permanent is like owning it—with benefits you can actually use while alive.
Term is great for temporary needs—think mortgage coverage or replacing income while kids are young. But once the term ends, so does the coverage.
Permanent insurance costs more—but it gives you lifelong coverage plus a cash value you can tap for emergencies, opportunities, or retirement income.
