Whole Life vs Term Life

Guaranteed lifetime protection and access to cash value that's guaranteed to grow.

Coverage for temporary needs with options that allow you to prepare for the future.

Guaranteed lifetime protection as long as your premiums are paid.

A set period of time, usually 10 to 20 years.

Premiums are guaranteed never to increase, and there are options for how often and how long you pay—monthly, quarterly, or yearly.

Pay premiums for as long as your coverage lasts. With many policies, premiums are locked in for a set period, and may be less expensive than whole life premiums during that period.

Guaranteed cash value growth that can be accessed when needed and may increase through dividends, when paid. These benefits accrue tax deferred, allowing you to maximize your savings.

None.

Death benefits can be transferred to beneficiaries tax free.

Death benefits can be transferred to beneficiaries tax free.