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  2. Term life insurance and permanent life insurance
    • According to 2 sources
    There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance offers protection for a designated timeframe. Permanent life insurance policies like whole life or universal life extend coverage for the insured's entire lifetime and have the potential to build up a cash value as time progresses.
    There are two main types of life insurance: term life insurance and permanent life insurance. Term life insurance is generally the cheapest type of life insurance, with rates and coverage locked in for a set period, or term. Permanent life insurance lasts a lifetime and usually builds cash value over time, but is more expensive.
     
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