[…] A person with a set amount of money that can be devoted to life insurance premiums will be able to purchase significantly more face value if she goes with term coverage. But the insurance will be in place for the rest of her life if she goes with permanent coverage (assuming she doesn’t cancel it). There’s no one-size-fits-all answer to whether term or permanent life insurance is a better option, and it depends largely on the person’s budget, face value needs, and long term planning. […]