Between permanent life insurance and term life insurance, which typically has the lower premium and why? a. term life insurance has the lower premium because term life insurance pays the face value to your beneficiary if you die within a certain set period of time, whereas whole life insurance covers you your entire life. b. term life insurance has the lower premium because you cannot renew the insurance after your term has ended. c. permanent life insurance has the lower premium because you are making more premium payments (your whole life versus a set period of time), so the amount per premium payment is less. d. permanent life insurance has the lower premium because the amount you contribute is then invested and makes interest for the life insurance company.