ARTICLE · 11 JANUARY 2024

Life Insurance 101. What's The Difference Between Term Life Insurance And Permanent Life Insurance?

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It seems so simple. We buy life insurance to protect our spouse, our business partner, and our kids in the event of our early death. But life isn't a one-size-fits all proposition...

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It seems so simple. We buy life insurance to protect our spouse, our business partner, and our kids in the event of our early death. But life isn't a one-size-fits all proposition (not by a long shot), and the same goes for life insurance.

We talked to Alison Hughes, Director of National Distribution at Lawyers Financial, about the type of life insurance you rent vs. the type of life insurance you own, and why that distinction matters.

Q. ALISON, WHEN WE HEAR "LIFE INSURANCE," MANY OF US THINK ABOUT GETTING HIT BY A PROVERBIAL BUS. YOU MEET YOUR DEMISE, AND THE BENEFICIARY OF YOUR POLICY GETS A CHEQUE. PRETTY STRAIGHTFORWARD. BUT THERE'S MORE THAN ONE KIND OF LIFE INSURANCE. HOW ARE THEY DIFFERENT?

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