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Term insurance is to permanent insurance like a stock option is to owning stock.
Term gives you the option to buy the permanent coverage without medical requalification as long as you do so before the option expires.
However, you never experience the benefits of ownership (such as dividends) until you exercise your option to own it (permanent coverage).
Term gives you the option to buy the permanent coverage without medical requalification as long as you do so before the option expires.
However, you never experience the benefits of ownership (such as dividends) until you exercise your option to own it (permanent coverage).