Term Vs. Permanent Life Insurance
- Charlotte Burr
- Dec 10, 2025
- 2 min read
In the search for life insurance, you have most likely encountered the terms Permanent
Life Insurance and Term Life Insurance. But what exactly is the difference between
term and permanent life insurance?
Well, let’s start by breaking down what exactly term and permanent life insurance is.
Term life insurance is life insurance that is purchased for a set period of time, usually
from 10, 20 or 30 year time frames. There are many benefits to purchasing term life
insurance. The premiums are often affordable Furthermore, the price of your premium
won’t change over the course of the term. Plus, if the policy could have the possibly of
being extended by converting the type of policy.
There are, however, two important things to note when it comes to term life insurance.
The first is that most companies won’t sell term life insurance to anyone over the age of
80 as it is considered too risky. The other is that there is often a two-year waiting period
wherein the death benefit will not be paid if the policy-holder commits suicide during that
waiting period.
Permanent life insurance is a little different. Permanent life insurance, sometimes
called whole or universal life insurance is a life insurance policy that lasts until the date
of your death or if you reach the age of 100 or 121 depending on the company. The
primary thing that sets apart this type of life insurance is that it is usually more expensive as it comes with savings opportunities that are not found in term life insurance policies.
If you would like help navigating the life insurance process, give AZ Insurance Team a call. As an Arizona-based insurance broker, we can help you find the right policy for your needs and budget. Give us a call at 480.535.5709 or request a quote.
You can request a life insurance quote here.
How AZ Insurance Team Has Your Back
At AZ Insurance Team, we’ve been serving the Valley for over a decade, helping families and individuals protect what matters most. Whether it’s reviewing your home, auto, or life insurance, summer is the perfect time to make sure you’re covered before the celebrations begin. Reach out today to review your policy and see how much you could save. Peace of mind is just a call or click away.
Independent insurance brokerage located in Tempe, AZ. We offer auto insurance, homeowners insurance, life insurance, renters insurance, commercial insurance…
Disclaimer: Coverage will vary based on state, insurance company, and type of policy
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