What Is The Difference Between Term And Non Term Life Insurance? 
Term Life Insurance is coverage that will pay out if you die before the end of the term . E.g. Let 's say you have 10 year term life insurance and let it go when the term ends , because you do not want to pay the higher premium that begins at year 11 . If you die midway through year 11 , the policy will not pay a death benefit . In contrast to that , Non Term Life Insurance will pay out for as long as it is set up to pay out . Most people select a non term policy that will last their entire lifetime . There are other differences between Term and Non Term -LRB- usually called Permanent -RRB- Life Insurance . Permanent Life Insurance can have cash values , whereas Term Life Insurance almost never has cash values . You can design Permanent Life Insurance to be paid up in a certain number of years , so that you do n't have to bother with paying premiums later in life . Term Life does not have that option . Some Permanent policies are more flexible than Term . As you might expect , the cost of Term Insurance is usually less than is the cost of Non Term Insurance . It can be helpful to discuss your needs with an experienced agent so that you can balance cost with getting the best type of coverage for your needs . 