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Term or Whole Life: Which Fits Your Family?

Coverage length, cost and long-term value all pull in different directions. Here is a practical way to think about it.

Life Insurance5 min read

Term life insurance covers a set number of years and is usually the most affordable way to protect a mortgage, income or children's education during the years those obligations exist.

Whole life insurance is designed to last for life and can build value over time. It costs more per dollar of coverage, but it suits goals that do not expire, such as leaving a legacy or covering final expenses.

Many families end up with a mix. The starting point is a clear picture of what you are protecting, for how long, and what premium fits comfortably in your budget today.

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