This video will breakdown Term Life Insurance vs. Permanent Life Insurance. Which is best for you and The Pros & Cons, and
Financial Planning
Insurance
TriathlonPartnersTV
By ira
June 10, 2025
Term vs. Permanent Life Insurance | Pros & Cons Explained
By ira
June 10, 2025
This video will breakdown Term Life Insurance vs. Permanent Life Insurance. Which is best for you and The Pros & Cons, and provide the guidance to find the type of policy that best meets your objectives. Life insurance is one of those necessary things in life, because life happens! It’s better to have life insurance and not need it, than need it and not have it.
Insurance expert Ira Koyner explains term and permanent life insurance. Understanding the difference between term vs permanent life insurance is crucial when choosing coverage. This guide covers term vs whole life insurance explained, highlighting term life insurance pros and cons, term insurance benefits, and the term life insurance. Learn about the cost of a permanent life insurance policy, how permanent life insurance works, and compare term vs permanent insurance to decide whether term or permanent insurance fits your needs. Get the life insurance pros and cons you need to make an informed choice.
Term life insurance:
It provides coverage for a specific time period — usually 10, 20, or 30 years. If you pass away during that term, your beneficiaries receive a tax-free death benefit. If you outlive the term, the policy expires.
Pros of Term Life Insurance:
Affordable, especially when you’re younger and Simple — easy to understand and manage. Ideal for income protection, mortgages, and short-to-midterm financial responsibilities.
Cons of Term Life Insurance:
No cash value — you’re renting the insurance. Coverage ends after the term.If your health changes, renewing can be costly or impossible.
Permanent Life Insurance:
Permanent Life Insurance: It is designed to last your entire life and includes a cash value component. But it comes at a higher cost than term insurance. The cash value component is an investment that grows tax deferred. It can be borrowed to fund retirement or other expenses. The borrowed funds are tax-exempt and Permanent Life insurance is a preferred investment product for high net worth individuals.
Permanent insurance: Whole Life Insurance and Indexed Universal Life Insurance, IUL:
The pros of Indexed Universal Life Insurance, such as flexible premiums, and equity like growth potential of the point to point strategy are explained. Whole life insurance offers steady cash value growth and dependable death benefit at the expense of a rigid premium structure and high fees.
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