Is Term Life Insurance Cheaper Than Whole Life Insurance? 
As others have said , Yes term life insurance premiums are CHEAPER than permanent life insurance premiums but it may not be the best value . The only reason it can be cheap -LRB- everyone will die one day -RRB- is that a very low percent of term policies will actually pay a death benefit claim . It has been described above as temporary like renting . Perhaps a more accurate description would be a `` premature death policy '' because if you live a normal life expectancy or longer you will die without a term life insurance policy enforce to pay a death benefit . Think of life insurance as a tool to meet a need and cheap takes on a clear meaning . If you have a temporary need for a specific purpose you will out live then it may work well for you . If you have a permanent need or would like to see your premium money returned in some way in the future , consider investing in a better tool . 