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.
Missouri had the 11th lowest cost of living in the United States for 2016. In general, the most expensive areas to live were Hawaii, Alaska, the Northeast, and the West Coast. The least expensive areas were the Midwest and Southern states. MERIC derives the cost of living index for each state by averaging the indices of participating cities and metropolitan areas in that state.