How Much Does A Whole Life Insurance Policy Cost? 
The easiest way to think of Whole life is it is the most expensive short term policy you can buy , but at the same time it is the cheapest long term policy you can purchase . Whole life will be the most costly initially per face amount than either term or universal life . Over time , whole life becomes the cheapest policy to own and the safest to own over a long period of time . With Whole life costs tend to be set contractually , while term and ul policies tend to have rising costs over time that can make them unmanageable if held for a long period of time . So the way to look at whole life is it starts high in cost but becomes low in cost over time . This is why most advisors suggest term insurance for short term needs -LRB- less than 20-30 years -RRB- and whole life for longer periods -LRB- 20 years to life -RRB- as they are most cost effective used for those needs . 