Term v.s. Perm (Competition) · The Financial Architects

Term v.s. Perm (Competition)

👋 Hey fam, here is my entry for the vide competition: Term or Perm? 🤔 That’s right, we’re explaining the difference between Term Life Insurance and Permanent Life Insurance. 👨‍👩‍👧‍👦💼

Term Life Insurance

✅ Simple and straightforward – You’re covered for a specific period (10, 20, or 30 years) ⏳.

✅ More affordable than permanent insurance, perfect if you want to protect your family during the years they need it most 💵.

✅ Ideal for short-term goals – like covering a mortgage 🏠 or paying for your kids’ education 🎓.

❗️ But… when the term ends, if you don’t renew it, the coverage is over! 😱

Permanent Life Insurance

🌳 Lifetime coverage – It never expires as long as you pay your premiums 📅.

💰 Cash value growth – In addition to protection, it also allows you to save money over the long term! 💸 You can use this cash value for future financial needs 💼🏖️.

🔒 It’s more expensive, but it comes with added benefits like living benefits that can help you in case of a medical emergency 🚑.

💡 So, which one is right for you? The answer depends on your goals, your budget, and what you value most. If you need affordable protection for a set period, Term might be your choice. If you want a plan that’s more like an investment and covers you for life, Perm has you covered! 🎯

#TeamTerm or #TeamPerm, which side will win this debate? 😁🏆

Term

Perm

2 votes

2 comments