Anyone who is shopping for a life insurance policy needs to grasp the distinction between term and permanent insurance. That way it is possible to make sound choices regarding the kind of insurance that is needed. You also stand to save some big money by understanding the differences between the types of insurance. Have a reason to buy life insurance. You first have to determine if you need it, and why. You will get lower premiums if you are still young: start thinking about life insurance early. You have decided you need a life insurance policy, and figured out how much insurance you need, now you need to figure out what kind of insurance best fits your needs. Currently there are four varieties of life insurance available; variable life, universal life, whole life, and universal life. When it is time for your term life insurance to expire, take some proactive steps. If you are still in good health, starting another policy of term life may be the best idea. If you’re health is compromised, try getting permanent life insurance. Doing this will let you skip getting a new medical exam, and in the years to come, your permanent insurance payments may wind up costing less than a term policy would. Go to a financial adviser for help, instead of a broker. Be aware that most brokers are earning a commission off the insurance policies they sell, so they may push a policy on you that isn’t the best choice for you. On the other hand, financial advisers are paid a flat fee. Financial advisers are likelier to be truthful with you because they don’t have the incentive to sell you the most expensive policy.