answersLogoWhite

0


Best Answer

Term life insurance if only for the life of the coverage holder, once deceased the amount is paid to the beneficiary. Permanent life insurance, known as whole life insurance, combines term life insurance with an investment option.

User Avatar

Wiki User

โˆ™ 2013-05-29 16:01:30
This answer is:
User Avatar
Study guides

A survey question that asks you to write a brief explanation is called

Auto correlation and cross correlation

If a married man cheats does that mean there are problems in his marriage

The nature-nurture question asks whether

โžก๏ธ
See all cards
4.25
โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…โ˜†โ˜…
503 Reviews

Add your answer:

Earn +20 pts
Q: What is the difference between term and permanent life insurance?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

What is the difference between voluntary insurance?

What is the difference between voluntary life insurance and life, ad/d?


Are premiums on life insurance of key officers a permanent difference?

Life insurance premium expense when the corporation is the beneficiary is a permanent difference. It is deducted for book income but not for taxable income. And the proceeds received on such policies result in a book gain but are not taxable.


Difference between Reliance Life Insurance and LIC Which company is best In life insurance?

LIC


What is the difference between accidental death life insurance and regular life insurance?

Usually the only difference between accidental death life insurance and regular life insurance is the name, although sometimes an accidental death life insurance will pay out more money if the death is accidental.


What is the difference between life insurance and life assurance?

The terms are interchangeable.


What is the difference between life insurance and whole life insurance?

The key difference between life insurance and whole life insurance is that regular life insurance carries a fixed term while whole life insurance covers one's entire lifetime. Whole life insurance also accumulates a cash value that one can borrow money against.


Is there a difference between a life annuity and an insurance annuity?

There isn't a real difference between life annuity and an insurance annuity. Both are a form of life insurance and deal with the same issues. I would go with either one.


What is the difference between term and whole life insurance if there is any?

The difference between term life insurance and whole life insurance is that a term policy covers the insured for a "term of years" whereas a whole insurance policy covers the insured for the entire life period.


What is permanent life insurance?

Permanent life insurance is another name for whole life insurance. It provides permanent, lifelong protection. This distinguishes it from term life insurance. Click here for more about permanent life insurance including its advantages and disadvantages. A permanent life insurance policy remains in effect for the life of the insured, with premium payments being made for the same period. Permanent insurance consists of a premium and a cash value or savings component. Like term life insurance, it pays off in the event of your death, but unlike a term life policy, it operates differently. The premiums for a permanent policy are nearly five to ten times the amount of the term life rates. A portion of these premiums go into the cash value element of the policy, and over time, these savings can grow. As the name implies, permanent life insurance is permanent - the policy is applicable for your entire life as long as you keep paying the premiums. The most common permanent life insurance policies are whole life and universal life insurance.


What is the difference between indirect and direct quote life insurance?

The difference between indirect and direct quote life insurance is that the insurance level will differ. Direct is when someone dies, indirect involves other factors.


Which products does the Standard Life Insurance Company offer?

The Standard Life Insurance Company offers both temporary insurance and permanent insurance. Temporary insurance includes a term life policy. Permanent Insurance policies available are whole life, universal life, and endowment life.


People also asked