Counselors advise students to start looking for scholarships by the beginning of their senior year, and suggest they meet weekly with their guidance counselors about scholarships. They also recommend using various resource books and web sites aimed at matching students to scholarships. The simplest analogy used to explain the two types of life insurance is that term insurance is similar to renting, while whole or permanent life insurance is like purchasing a home. Which type of life insurance is best for you depends on your budget and your individual lifestyle. Term insurance can provide coverage for one to twenty years.
Term insurance can also help cover college expenses.
While the insurance can be renewed, it becomes more expensive the older you get. All three are types of permanent life insurance, but vary in flexibility and how your money is invested. Because life insurance can get complicated, agents say it's important to work with someone you trust and to review your policies often.