Term and permanent life insurance
Understand the basics before you choose your coverage.
Term life insurance provides coverage for a specific period while the policy remains in force. Families often consider it when they have a mortgage, young children, or income replacement needs for a defined time. Coverage ends at the end of the term unless the policy offers a renewal or conversion option.
Permanent life insurance is designed to provide longer-term coverage. Some policies can build cash value. Premiums, guarantees, cash value access, and ongoing funding requirements differ by product. Loans and withdrawals may reduce benefits or affect the policy.
Before choosing, discuss who depends on your income, how long you need coverage, what you can afford over time, and the policies you already hold. Compare actual policy terms rather than choosing by the label alone.
Learn more from Texas Department of Insurance: Life insurance guide.