Coverage for a set period, such as 10, 20, or 30 years.
Affordable premiums, straightforward protection, flexible term options.
Coverage ends when the term expires; no cash value growth.
Permanent coverage with fixed premiums and a cash value component.
Lifetime protection, guaranteed cash value accumulation, loan options.
Higher premiums; slower cash value growth early on.
Permanent insurance with adjustable premiums and flexible death benefits.
Payment flexibility, potential for cash value growth, adaptable to changing needs.
More complex; fees and expenses can reduce growth.