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understanding life insurance can seem complicated but it doesnt have to be at its most basic life insurance provides financial support for your loved ones if you can no longer be there did you know that 45% of Canadians dont have enough life insurance and that two out of three people admit theyd have trouble meeting everyday living expenses if something unexpected happened having life insurance protects the life you and your family are building today and the life youll have in the future youre likely wondering what are my options lets take a closer look there are two types of life insurance term and permanent term life insurance lasts for a specific period of time theres a beginning and an end with the co-operators you can choose a 10 15 20 25 or 30 year renewable term permanent life insurance is exactly that permanent the co-operators offers two main types whole life and universal life and both last your entire lifetime but youre probably still wondering which one is right for