COMPARE POLICIES

Compare life insurance policies side by side

See how term, whole, and final expense stack up on cost, coverage length, and cash value — then compare real sample rates before you buy.

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Reviewed by licensed agents Updated for 2026 No spam, ever

Side by side

Compare life insurance policy types

The three policy types people compare most are term, whole, and final expense. Term is the cheapest and covers a set period; whole life lasts forever and builds cash value; final expense is a small, easy-to-qualify-for policy for end-of-life costs. The table below breaks down how they differ.

Comparison of Term life and Whole life insurance features
Feature	Term Life	Whole Life
Coverage length	10, 20, or 30 years	Lifetime (as long as premiums are paid)
Typical monthly premium ($500K, age 35)	~$28	~$420
Builds cash value	✕ No	✓ Yes
Premiums can change	✓ Locked during term	✓ Locked for life
Can borrow against the policy	✕ No	✓ Yes
Best for	Income replacement while kids are young or mortgage is unpaid	Estate planning, lifelong dependents, cash-value strategy

Premiums shown are illustrative averages for a healthy 35-year-old non-smoker. Your rate will vary.

SAMPLE RATES · ILLUSTRATIVE ONLY

See sample life insurance rates

Quickly see how sample monthly premiums compare across policy types. Real quotes vary based on age, health, and coverage.

How to choose the right policy

On a budget or protecting young kids? Term gives you the most coverage per dollar.
Need lifelong coverage or estate planning? Whole or guaranteed universal life fits better.
Mainly want to cover a funeral? A final expense policy is simplest.
Unsure how much? Run the numbers in our calculator first, then compare quotes.
Have health concerns? Look at no-exam and guaranteed-issue options.

Common questions

Comparison FAQ

How much life insurance do I really need?

A common rule is 10–12× your annual income, but the better approach is the DIME formula: Debts + Income replacement + Mortgage + Education costs. Subtract existing savings. For most families with young kids, that lands somewhere between $500K and $1M of term coverage.

Is term or whole life better for a young family?

For most young families, term life is the better fit. It’s 5–10× cheaper than whole life and covers the years when you most need protection — while children are at home and the mortgage isn’t paid off. Whole life only makes sense for specific estate-planning, lifelong-dependent, or high-net-worth cases.

Can I get life insurance with a pre-existing condition?

Yes — but the type of policy and your premium will depend on the condition. Well-managed conditions (controlled diabetes, treated high blood pressure) usually qualify for standard term policies, sometimes at a higher rate. For more serious conditions, guaranteed-issue or simplified-issue no-exam policies skip the medical underwriting entirely.

What happens if I outlive my term policy?

The policy expires and the coverage ends with no payout. Most term policies offer a conversion option — usually until age 65 — that lets you swap to a permanent policy without a new medical exam. Many also offer renewal, but renewal premiums are much higher because they reset to your current age.

Are the sample rates on this site real quotes?

No. All rates shown are illustrative and educational only. Your real premium depends on age, health, smoking status, state, and the insurer’s underwriting. Use our sample tables to understand ranges, then get a binding quote from a licensed broker or insurer.