Coverage Guide
Life Insurance Coverage Basics: Term vs. Whole Life
A plain-language look at how term and whole life policies differ, how much coverage makes sense, and when to buy.
Term vs. Whole Life
Term life covers you for a set period at generally lower cost. Whole life lasts your entire lifetime and builds cash value, but costs more.
How Much Coverage Makes Sense
This depends on things like income replacement, outstanding debts, and future expenses such as education, not a one-size-fits-all number.
When to Buy
Locking in coverage while you're younger and healthier generally means a lower rate for the life of the policy.
Related Reading
- How Much Life Insurance Do You Actually Need?
- Term vs. Whole Life Insurance: Which Fits Your Family?
- When Is the Right Time to Buy Life Insurance?
- Does a Stay-at-Home Parent Need Life Insurance?
