Life

	Provides economic protection for a specified period (or "term") at a specified rate . Term insurance is perfect when your needs are temporary and when you need protection until a debt, such as a mortgage or a business or education loan is paid off. Generally speaking, if your need for protection lasts ten years or less, or will cease entirely before age 60, term insurance is an intelligent buy. Term insurance is normally the better buy for the younger age groups and for the short run. It makes the ideal choice when you're young, just starting out, and on a strict budget, since it allows you to buy the full amount of coverage you need at an affordable price.
	Permanent insurance, on the other hand, provides permanent protection, coverage for your entire life. "Whole life" insurance offers a level or fixed premium that is guaranteed never to go up, because it averages insurance costs over your lifetime. In the early years, therefore, premiums are higher than the amount required to pay only for pure death benefit protection.
	Like Permanent Life Insurance, this kind of insurance is permanent, offering lifetime protection and cash value accumulation. Unlike whole life, however, universal-type policies feature an adjustable death benefit and flexible premiums. After making an initial minimum premium payment, policy owners may pay whatever they desire, subject to IRS and company minimum/maximum rules; they may even skip premium payments for a year or longer. The policy's death benefit may fluctuate accordingly. With a universal policy, you have added flexibility to adjust your death benefit and premium payments according to your current needs.

There is no easy answer to this question. And that is not because the three kinds of insurance are so complex and difficult to understand - actually, the differences between them are basic and easily comprehensible. What makes these questions difficult is that the answers depend on you, your budget, and your needs. One kind of insurance is not necessarily "better" than the other; and they are certainly not mutually exclusive. More than likely, your choice will not be "either/or" but "the best mix."

When all is said and done, you need not be thinking in terms of "term versus permanent." Rather, you should be thinking of what is the best mix of term and permanent insurance that will meet your needs. With the help of a Glenn Agency agent, you can design an insurance plan that is flexible and affordable - a customized plan that will meet your needs and help you reach your goals.