Life Insurance

There are several kinds of life insurance

but they generally fall into two categories: term insurance and permanent insurance.

Term insurance is designed to meet temporary needs. It provides protection for a specific period of time (the "term") and generally pays a benefit only if you die during the term.

In contrast, permanent insurance provides lifelong protection. As long as you pay the premiums and no loans, withdrawals, or surrenders are taken, the full face amount will be paid.