Term Life vs. Permanent Life

Permanent life insurance provides protection for your entire lifetime, building value over its life. The premiums tend to
be pricey because the cost is spread over the life of the policy at a level rate and a portion of the premium is banked to develop cash value. The application process can be
lengthy as it requires a medical exam and significant time before approval.

Conversely, a term life insurance policy offers protection
that lasts a specific period of time. Since term life
insurance does not build cash value and is for a shorter length of time, the cost is much less expensive. The online term life quote request is straightforward and quick.

To simplify the differences between the two, Instant-Term-Life provides this valuable comparison chart for an at-a-glance look at the benefits of each type. Information has been compiled from the State Farm Insurance web site.

Permanent and Term Life Insurance Comparison

	Term Life Insurance	Permanent Life Insurance
Coverage	Specific period of time, or “term”	Entire lifetime
Best suited for	Short-range goals	Long-range goals
Financially, best for	Those with a more limited budget	Those who can afford high premiums
Premium	Lower cost, more affordable than permanent	Higher premium because cost is spread over life of the policy
Death benefit	Death benefit provided for the specified time period	Death benefit provided for as long as you live
Medical exam	Rapid Decision Term Life does not require a medical exam- just answer a few health questions to receive free quotes	Medical exam is required as part of the application process
Application	Rapid Decision Term Life's easy online quote request takes minutes	Process can take a month or more before approval and coverage begins; need to work with an agent to apply

Get a free online life insurance quote today!!

Instant-Term-Life.com is not a life insurance company, broker, or carrier, and we cannot issue life insurance policies. This site provides free information on insurance providers and coverage options. Policies and products may not be available in all states, and product and policy information is subject to change without notice. Please contact your insurance company directly to answer your policy inquiries.

Fidelity Life Association is licensed in all states and the District of Columbia, except for WY and NY. Rapid Decision Term Life (Policy Form F3600) and some riders are not available in all states. A two year suicide exclusion and contestability period applies (one year in some states). All applications are subject to underwriting approval. Our NAIC number is 63290. Life insurance without a medical exam may not be available to all customers and we make no guarantees regarding same herein. A medical exam may be requested based upon medical history and other factors. Rapid Decision Term Life is not an insurance broker or carrier. We cannot make changes to existing life policies, nor can we issue policies. Life insurance products and services may not be available in all states. Information regarding life insurance products is subject to frequent change, and while we try to keep our site as up to date as possible, we cannot guarantee the accuracy of information on our site at any given time.