Permanent vs. Term Insurance

• Short-term solution: Think of it like renting your insurance. Great if you only need coverage while you’ve got a mortgage, kids to put through university, or a carload of other financial commitments.

• Cheap and cheerful: Low premiums, but like that takeout, the low cost doesn’t last forever. When the term is up, it’s more expensive to renew—if it’s even available.

• Temporary peace of mind: Perfect if you’re healthy and confident you’ll outlive the term. But if life throws a curveball, you could end up wishing you invested in something more permanent.

• The "forever" policy: Coverage lasts as long as you do—no awkward conversations about your term expiring at age 80.

• Built-in savings: Some policies (like whole life) accumulate cash value. Think of it as a rainy-day fund or a backup retirement account…that also pays out when you’re gone.

• Pricier upfront: Yes, it’s a bit like buying the premium brand at the grocery store. But hey, you get what you pay for—guaranteed peace of mind and something to show for it.

Tip: The younger and healthier you are the more affordable it will be.

• If you’re someone who likes renting your place and ordering Uber Eats, Term Insurance is your no-fuss, no-muss option.

• But if you’re the type who plans dinner parties and owns a compost bin, Permanent Insurance might be more your style.

Or heck, do both! A lot of people “bundle” their policies; term for short-term needs and permanent for lifelong peace of mind. Because let’s face it: life is unpredictable, and sometimes it’s nice to know you’ve got your bases covered