In this episode of Pocket Size Advice, Miller Hoffman of TradeWinds breaks down the key differences between term life insurance and permanent life insurance, helping you better understand what might be the right fit for you and your loved ones.
Why it matters: – Often referred to as “renting” coverage, term policies provide protection for a set period (10, 20, or 30 years). If you pass away during the term, your beneficiaries receive a defined payout. Once the term ends, the coverage typically expires.
Why it matters: – Designed to last your entire life, these policies may include a cash value component and offer more flexibility—but often come with higher costs and greater complexity.
