What is the difference between term and permanent insurance policies?

Term and permanent insurance policies are two types of insurance policies available to individuals in Arizona. Term insurance is a type of policy that provides coverage for a certain number of years and then expires. The policy does not provide a benefit upon the policyholder’s death, but instead pays out a pre-determined amount of money to a beneficiary after the policyholder’s death. This type of policy is usually the least expensive type of insurance you can get. Permanent insurance, on the other hand, does not expire or terminate after a certain number of years. It remains in effect as long as the policyholder pays for it. It also typically provides a death benefit that can help the beneficiaries of the policyholder’s estate. In addition, some types of permanent insurance policies may also provide cash value that the policyholder can access while they are alive, which can be useful in times of financial need. There are also many other factors to consider when choosing between term and permanent insurance policies. The length of time you plan to keep the policy, the amount of coverage you need, and your budget for purchasing insurance are all important factors to consider. Ultimately, the type of insurance policy you choose in Arizona should depend on your individual needs and situation.

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What is the difference between term and permanent insurance policies?

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