If you’ve been thinking about life insurance, especially if you have family, loved ones, or anyone who depends on you financially, you might be curious about the different kinds of policies available. Which type is right for you?Essentially, you can look at two main categories of life insurance: term and permanent.Term insurance is a pay-as-you-go option that covers a specific amount of time, usually 20 years or fewer.Term insurance benefits are paid to your beneficiaries free of federal income taxes if you pass away during the coverage period, but there’s no opportunity to build cash value.Permanent insurance, such as whole ...