Why Is Whole Life Insurance More Expensive? 
Whole life insurance is designed so that the premiums never go up and you will have coverage until you die , whatever the age may be . As a result the premiums are based on life expectancy and evened out over that period of time . You pay more in the early years but in later years you actually pay less than term . The excess in the early years is what helps build cash value . Term insurance generally will go up after each term period to the point where in later years it becomes unaffordable It depends upon the reason for the insurance as to which is the better option . Temporary needs are best addressed with term , while permanent needs are best addressed with whole life . 