Does Permanent Life Insurance Make Sense? 
And their two main kinds of permanent life insurance . There is universal life insurance and there 's whole life insurance . Universal is usually sold under the name permanent insurance but that does n't mean that it 's priced where will be in force your entire lifetime . It usually has guarantees to certain age and will lapse after that age . Whole life insurance definitely makes sense if the need for your insurance will be there your entire lifetime . If you only have a temporary need for the life insurance such as the cover of mortgage payoff which will end in 20 or 30 years you only need term life insurance for that . 