Term Life Insurance vs. Permanent Life Insurance

A family covered by Term Life Insurance vs. Permanent Life InsuranceThe basic difference between Term and Permanent Life insurance are:

Term insurance is for a set amount of time such as 10 years; 20 years or 30 years.  There is no cash value in term life policies.  Term insurance premiums are lower than Permanent Insurance.

Permanent insurance can be designed so you cannot outlive the policy and can have a cash value that can be borrowed against or taken in the form of cash if you surrender the policy.

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William J. Goodman Insurance, Ltd.

(708) 799-2655
18033 Martin Avenue
Homewood, IL 60430

Jeff Goodman