Life can be highly uncertain and this is mainly why it becomes necessary to get an insurance coverage that will look after the financial needs of your family in case of your demise. Considering what you need financially, your retirement goals could provide you an advantage when selecting the best insurance plan. Life and pension insurance both make excellent long-term insurance plans. They vary in their significance, advantages, terms and conditions so on. 

Nevertheless after your demise, life insurance gives financial assistance to those you love. There are regular premiums as well as rider advances. Annuity, however, is a form of retirement savings which offers you with financial stability once you reach retirement age.  

In simple terms, life insurance is beneficial if you happen to perish before the expiration of your policy term period, while an annuity is beneficial if you survive the term period.