Question

Between permanent life insurance and term life insurance, which typically has the lower premium and why?

Answer 1

a.

Term life insurance has the lower premium because term life insurance pays the face value to your beneficiary if you die within a certain set period of time, whereas whole life insurance covers you your entire life.

Explanation:

Got it right on edge 2020

Answer 2

Term insurance has the lower premiums. The reason for this is that that term life insurance builds no cash value. Therefore, the cheapest form of insurance is term insurance.