Permanent insurance is the term used to describe various types of life insurance, such as whole life, universal life, and variable life.
Permanent insurance is different than term in that it can provide coverage for life, assuming, of course, the premiums are paid on time. Premiums can be flexible, according to your finances, and they can accumulate a cash value that you can borrow against. Some people have both permanent and term insurance.
The type of insurance that is right for you—and how much you need, and for how long, and at what price—depends on a number of factors, most especially your individual situation and that of your family’s.
Be sure to consult an insurance advisor in order to make a fully-informed choice.