Find & compare doctors, hospitals, & other providers. Hospitals, nursing homes, home health agencies, medical item suppliers, health care providers, health and drug plans, dialysis facilities. What Part A & Part B doesn't cover. Learn about what items and services Medicare Part A and Part B doesn't cover.
The easiest way to remember the difference is to think of term as temporary insurance and whole life as permanent insurance which remains in force until the day you die, or until you are 120 years of age, whichever comes first.
Premiums for whole life insurance can be much higher than premiums you would pay initially for the same amount of term insurance, but they are smaller than the premiums you would eventually pay if you were to keep renewing a term insurance policy until the insured's later years.