Is Term Life Insurance Expensive? 
That is a great question ! Typically , term life insurance is very inexpensive , when compared to a whole life policy for the same benefits . The reason is that term policies will end at the specified term end date , and there is only a payment if the insured dies within that period of time . Since they do n't have to pay off very often , these policies can be offered more cheaply . A whole life policy will always pay off , assuming it is kept in force . Term policies also have no extra bells or whistles , it 's straight coverage for a period of time , and that 's it . No riders , cash value , or surrender values , like a whole life policy would have . This type of policy is great for covering debt , as they are so inexpensive , and when the debt is repaid , the policy can be ended . I hope that helps , thanks for asking ! 