How does life insurance compare to term insurance?

Life insurance is pays out a death benefit upon the passing of an insured person.

Whereas, term insurance is one type of life insurance, which provides temporary coverage usually lasting for a period of 30 years or less.

Some life insurance plans provide lifetime protection and build some cash value inside the policy; whereas, term insurance is pure death benefit protection with no cash value feature inside the policy.

Permanent (lifetime) life i...