There are many different types of life insurance, depending on what you want the insurance to do. There are many variables that influence the price of the coverage, but the major variable to change the type of coverage is how long the coverage is effective for. There are policies that have a defined term (term insurance) and permanent policies that do not expire. The term insurance can range from a 1 – 100-year term. The permanent policies never expire but there are ways to add a tax-free investment into your permanent insurance policy and have control over what it is invested in.