Which Is Better Term Or Life Insurance? 
I am assuming you mean Whole Life Insurance . Term insurance is life insurance . Term insurance is pure insurance . There is no cash value and it is in force for a limited amount of time , the term of the policy . A one year term must be renewed after one year , five year term after five years and so on . Each term period renewal the premium will go up based on the persons age at renewal . Eventually term insurance becomes unaffordable . Whole Life is designed to be in force until you die . The premiums never go up because they are averaged out over a persons expected lifetime . As a result , initially the premium is higher than term insurance . The excess premium is invested and a cash value fund is built into the policy . Whole life is designed for permanent needs . Term insurance for temporary needs . 