Difference between regular life insurance and term?

Term life insurance offers you coverage for a certain period. Premiums remain steady during this period and are usually low cost. If you outlive the term, there are no gains for you, and no money is refunded to you on premiums that have been paid. If you die during that period, death benefits will be paid to your beneficiaries.

On the other hand, regular life insurance covers you for your entire life. Regular life insurance also acts as an investment and will build cash value over the years. These can be utilized by the owner whenever needs arise. There are no such options available in term life insurance. However, term is preferred by many due to its affordability, even for huge death benefits.

Denise