Is Term Life Insurance Cheaper Than Whole Life Insurance? 
Yes it is cheaper , but you must die to collect . Insurance companies work on the law of large numbers . The know that if they insure healthy people for a given period of time , so few will die that the company will make money . The older you are , the greater the cost . Note that term life insurance purchased at age 60 , may NOT be less expensive than whole life purchased at age 30 . 