Money Supply and the Money Multiplier. Money, either in the form of currency or as bank reserves, is a liability of the central bank. The central bank controls the monetary base, expanding or contracting it at will, according to the needs of the economy.
Whole life is also more expensive because of the costs of storing and investing your premium money. Unlike term, the money that you put into your whole life policy can be borrowed from the policy if you need it. Term policies only collect enough to cover the cost of your insurance, and have no cash value.
Term life insurance is the least expensive option available and also the simplest. The term of the policy is for a given number of years (typically 10, 20, or 30), and as long as you pay the premium your beneficiary will get the face value at your death.