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.
The key drawback to converting your term life policy to a permanent one is the cost. Premiums vary based on many factors. But as an example, a 30-year-old woman who might pay $190 a year for a $250,000 30-year term life policy would pay $2,137.50 a year for a $250,000 for a whole life policy.