Is term life insurance permanent life insurance?..?

Rayford Latz: The "term" means that it is for a stated period of time and therefore not permanent. "Whole" life is permanent, but both can terminate early under certain conditions, such as war, failure to pay premiums timely or other factors stated in the contract.

Caleb Chapman: I recommend you this site to get quotes from different companies - COSTSCOMPARE.INFO-Re: Is term life insurance permanent life insurance?..?

Thurman Buege: No, term insurance is only for a set number of years. i.e. 5, 10,20, etc. You choose how long you want to have the policy based on your financial needs: age, age of children, savings, etc. It's based on the principle that as you age, your financial responsibilities and savings change as well. You shouldn't need the same size policy when you are just starting a family in your mid 20's or early 30's as you would when your children are adults and your mortgage is paid and you have money saved or invested for your retirement. Whol! e life insurance is considered permanent, however there are "catches" to the policies which may make it terminate. Always read your policy carefully. I hope this helps you....Show more

Wilfred Santacruce: No - term means temporary for the term of the contract.it is a wager between you and the life company - if you die within the agreed period they pay the named recipient of the insurance.Permanent life insurance is not a bet - you WILL die some day, the life company is gambling that your premiums (plus investment yield) will be greater than the guaranteed pay out.