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.
Compared with term insurance, the cost of whole life is significantly more for a fraction of the coverage. Thus, a permanent policy providing coverage of 10 times your income, plus college and debt, is likely cost-prohibitive. A better strategy is a low-cost term policy. Invest the difference, and build your wealth.