Preferred Financial Group

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"How Do Premiums Compare Between Term Life Insurance And Whole Life Insurance?"


As you will see there  is a substantial difference in premiums between Term and Whole Life and the difference is primarily theresult of the potential cash –value component found in some insurance policy. A Term Policy does not have a cash-value component directing premiums to pure insurance coverage while premiums for a Whole Life Policy are directed to pure insurance and a cash account that earns interest and accumulates tax free.


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No surprise here, the differences are substantial, very substantial.  However, this is a comparison between two very different products both of which provide the vital element of life insurance protection. What’s important is to evaluate the advantages and disadvantages of each as they apply to a specific situation. In other words, what’s best for one family may not be for a different family.