Term vs whole life insurance
Compare costs side by side and see the real financial difference over the life of your policy.
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This is an estimate for informational purposes only based on national and state averages. Actual rates vary by insurer and individual circumstances. For an accurate quote, contact a licensed insurance agent.
Term vs whole life: the financial reality
For the vast majority of people buying life insurance to protect their family during their working years, term life is the right answer. It provides substantial coverage at a fraction of the cost, and the premium savings — invested consistently — will almost always produce more wealth than the cash value component of a whole life policy.
Whole life insurance is not a scam — it is a product that serves specific planning needs. But those needs are narrow: estate tax planning, business succession, and permanent coverage for people who are uninsurable through other means. For income replacement during your working years, term life insurance is the most efficient tool available.