- Term life insurance provides coverage for a specific time period (term) and is often
referred to as "temporary" insurance.
- Universal life provides for completely flexible premiums and even allows payments
to be skipped after the first policy year as long as the cash value is large enough to cover policy expense charges.
of Premium Term is a term policy is a term policy that returns premiums to you after the coverage period ends.
life insurance is called "permanent" protection, meaning the coverage (and the premiums) lasts for your entire life.