What Is The Difference With Term And Whole Life Insurance? 
That is a great question ! It is actually probably the most common question I get . Term policies are perfect for people who have very tight or small budgets and need insurance , or that have a debt that they need to have covered for a short period of time.For example , let 's say that you just graduated college , and have a lot of school debt to repay , and a starting salary job . A term policy that insures you until the loan debt is paid , or until you get a higher paying job is a great option . Or if you just had a baby , and want to increase your coverage to ensure that the baby 's college expenses , and needs would be paid for if something were to happen to you , again is a good option . If your need is for something that is more permanent , that you know you wo n't outlive , and that will have a reserve of cash that you can draw from if needed , then you will want a whole life policy . They are more expensive then a term policy , but they are also going to pay out , providing you keep the policy in force , while the vast majority of term policies will end without ever paying . Term policies also will not have any cash value , should you need it , or wish to surrender the policy . Once you have a whole life policy , the prices are generally set , and do not change , nor can you be dropped from them . Finding affordable coverage once your term policy ends can sometimes be difficult , or impossible , if you 've aged considerably , or your health has had some serious setbacks . I hope that helps , thanks for asking ! 