erm Life Insurance offers coverage for a set period and does not build cash value, making it more affordable. In contrast, Whole Life Insurance provides lifelong coverage, accumulates cash value over time, and typically has higher premiums.

Yes, many Term Life Insurance policies offer a renewal option. However, renewing the policy may result in higher premiums based on the policyholder's age and health at the time of renewal. It's important to check the policy terms for renewal options and conditions.

The amount of coverage needed depends on various factors, including income, debts, mortgage, future expenses (like children's education), and financial goals. A general guideline is to choose a coverage amount that is 5 to 10 times your annual income.

Some Term Life Insurance policies include a conversion option, allowing policyholders to convert their term policy into a permanent life insurance policy (such as Whole Life or Universal Life) without undergoing a medical exam. This option is typically available within a specified time frame, so it's essential to review the policy details.