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.
Helping you define Term and Whole Life. Term insurance is exactly what it sounds likeâinsurance for a particular time period ranging from 5 to as much as 40 years, depending on your age. At the end of that time period, the contract expires. You can renew it for an annually renewing term at a much higher cost.