Few people who have analysed life insurance have escaped the great debate over “Term vs. Permanent” life insurance.

The wrong kind of permanent or term insurance can do more damage to your financial plans than just about any other financial product today. The basic conflict is which product best fits your long-term needs. It is important because it revolves around the first and most important decision you must make when buying life insurance: Term, permanent, or a combination of both?

In essence, there are two categories of life insurance. Term life policies offer death benefits only for a specific pre-determined amount of time. So if you die within that contracted period of time, the insurance company will pay the death benefit. If you live beyond the contract period…. no death benefit. In essence you walk away with neither liabilities nor benefits.

This guide provides only basic information. You can get more facts from the insurance professionals at Field Insurance Brokers Inc.

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