What Is The Difference Between Term Life Insurance And Regular Life Insurance? 
Term Life Insurance is life insurance that pays out the death benefit if the insured person dies during the term of the policy . E.g. . If you buy a 10 year term life insurance policy on yourself , it would pay your beneficiary the death benefit if you died in the next 10 years . Regular life insurance can mean different things to different people . Back in our grandparents ' day , regular life insurance meant Whole Life . Whole Life is life insurance that stays in effect for the entire lifetime of the insured person . It also has cash value that people can borrow from or use before death . In modern times , regular life insurance can mean whatever you are familiar with . When you hear ads on TV or radio , they are usually quoting Term Life -LRB- with the exception of burial policies - they are usually quoting Whole Life -RRB- . You will want to ask for clarification before buying any policy , so that you get the type of life insurance that you truly want . 