Term life insurance is typically the least expensive and provides coverage for a specified period, typically 10, 15, 20, 25, or 30 years. It is great for temporary needs like mortgage protection or income replacement. Permanent life insurance will cover someone for their entire life and could accumulate cash value over time. Permanent insurance can be used for estate planning, wealth transfer, or as a tax deferred savings vehicle. With a permanent plan, any health changes don’t affect your insurability like they could with a term policy. A new term policy may not always be available depending on health status. Contact us to understand your options and to determine the correct amount of coverage based on your needs.