Term vs whole life insurance: which is right for you?
The plain-language difference between term and whole life insurance, what each costs, and who each one fits.
Term life
Term life covers you for a set number of years, like 10, 20 or 30. If you pass away during the term, your beneficiaries get the death benefit. It is the most affordable way to get a large amount of coverage, which is why most families start here.
Whole life
Whole life covers you for your entire life as long as premiums are paid, and builds cash value over time. It costs much more than term for the same death benefit, often 5 to 15 times more.
Who each one fits
Term fits families protecting income during the working and child raising years. Whole life can fit people who want lifelong coverage for final expenses, estate planning or a dependent who will always need support.
Talk it through
The right answer depends on your goals and budget. A licensed agent can show both side by side. Brontev matches you with one licensed agent in your state who can walk you through it.
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General information only. Brontev is a matching service, not an insurance company, and does not guarantee coverage or pricing.