Life Term Insurance or Permanent?

Having a personal insurance policy in place for life insurance is important to protect those you leave behind. However, with the option between term and permanent life insurance, it can be difficult to determine which may be best for yourself. Here are some of the benefits of each:


  • Affordable: Term life insurance is more affordable than permanent insurance. This makes the choice better for younger families to protect against loss of income in the case of an unexpected death. 
  • Simple: Term insurance is competitive. Insurance companies look to give their consumers the best price options over other companies. 


  • Cash Value: The higher premium you pay for permanent life insurance is invested and the longer you hold the insurance policy, the more accumulation of cash value. Basically, permanent life insurance almost acts like a forced savings. 
  • Borrow: The cash you are accumulating with this policy over time may be borrowed for retirement or education funding. 

Overall, term insurance tends to be the better choice because of it’s affordability and comparable death benefit protection. However, permanent life insurance is great for those concerned about asset protection in the future and paying estate taxes. 

For more information about life insurance in Colorado please contact Warrior Insurance, located in Monument. 

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