What’s the difference between Term Life and Whole Life Insurance?
Term life insurance covers you for a specific time period (like 10, 20, or 30 years). If you pass away during the term, it pays your beneficiaries. If the term ends and you’re still living, the coverage can expire or you can renew or convert depending on the policy.
Whole life insurance covers you for your entire lifetime (as long as premiums are paid). It’s designed to stay in place permanently and typically builds cash value over time.
Term is like renting coverage for your biggest “need years.”
Whole life is like owning coverage that can stay with you for life.
Family protected with life insurance that has both term coverage and whole life protection.