Term vs. Whole Life Insurance: A Comparison

Choosing which type of life insurance you want to buy is your biggest decision. We'll help you determine the policy that is best for you.

Premiums can vary by as much as 50%. Visit Netquote, where you can fill out a short form, select a plan, and input your personal data for a true personalized quote in minutes. Click here to start.

Use Insurecom to compare additional term life and whole life quotes, and get expert advice from an agent in your area, who can help you design a plan that's right for you. Click here to fill out a quick form.

Whole life insurance

Whole life insurance offer you coverage for your entire life, which means it never expires. Whole life insurance, also known as permanent life insurance, comes in three varieties: standard, variable and universal. These policies have a "cash-value" feature, which is a savings account that accumulates money and is then invested by the insurance company.

Term insurance: Affordable protection

A term life insurance policy does not last your entire life. Instead, it is limited to a term of 10, 15, 20, or 30 years. Term life insurance policies are less expensive than whole life insurance policies. Still, age and health of the insured, the length of the term, and the amount of coverage determines the cost.

Term vs. Whole

Your decision rests on two factors resources and goals. Term life insurance is an inexpensive way to secure your family's financial well being. Whole life insurance is more expensive but allows you the freedom to use the money you've invested.

The golden rule: unless you can afford to pay the premiums for the rest of your life buy term life insurance.

We have additional information on term life insurance or whole life insurance.

To speak with licensed agents offering all types of policies, get a quote from Insurecom.

For more help . . .

Getting the lowest possible premium on your life insurance is almost like an art form. There are many variables to consider, and to get the right balance of term length, benefit amounts, and policy riders and illustrations, you need to take a careful step-by-step approach to the buying process.

Our free life insurance course is designed to help you do just that.

Subscribe here: