What Is The Difference Between Term And Permanent Life Insurance? 
Term insurance and permanent insurance are different but in combination can provide an insurance plan that meets your needs as they change . Some obligations have specific durations . Some will last a lifetime . Caring for your spouse might be an obligation that lasts a lifetime . Final expenses , and charitable contributions are also lifetime obligations . A mortgage is a temporary obligation and term insurance would work well . While the cost for term insurance is low , when it doesnt end in a death benefit its actual cost can be quite high compared to a permanent plan that pays a death benefit . 