Life insurance is a broad term that includes various policies, while term insurance refers to a specific type of policy with unique features: (i) Coverage Period: The coverage period for term insurance is flexible, depending on the customer’s choice, whereas life insurance covers the insured’s entire lifetime, (ii)Payout: If the term insurance person insured passes away within the term, the beneficiaries will receive a death benefit. However, if they outlive the term, no payout will be issued, (iii)Premiums: Term insurance generally offers significantly lower premiums compared to whole life insurance as it only covers a specific period and generally has no cash values, (iv)Cash Value: Unlike whole life insurance, term insurance generally does not build cash value. Great Eastern’s term insurance policies include GREAT Term, GoGreat Term Life, etc.