Term Insurance

Whole Life Insurance

Provides coverage for a specific period, such as 10, 15, 20, or 30 years.

Provides coverage for the entire life of the policyholder.

An affordable option for those who want to provide financial protection for their family in the event of their death.

More expensive option than term insurance because it provides coverage for the entire lifetime of the policyholder.

Premium is typically much lower than the premium for whole life insurance.

Premium for whole life insurance is higher than the premium for term insurance, but it remains constant for the entire life of the policy.

Term insurance provides a death benefit only if the policyholder dies during the term of the policy. If the policyholder survives the term, no death benefit will be paid.

Whole life insurance provides death benefit regardless of when the policyholder dies, as long as the policy is in force.