Term vs Whole Life Insurance: Which Offers Better Value in 2025?
Term vs Whole Life Insurance: Which Offers Better Value in 2025? Choosing life insurance is one of the most important financial decisions you’ll ever make — but should you go with term or whole life coverage? In this guide, we break down the differences, pros, and cons so you can choose the policy that gives you the best value in 2025. What Is Term Life Insurance? Term life insurance provides coverage for a specific period — usually 10, 20, or 30 years. If you pass away during that term, your beneficiaries receive the payout. Pros: Lower monthly premiums Simple and easy to understand Great for temporary needs like income replacement or mortgage coverage Cons: No cash value Coverage ends after term expires unless renewed What Is Whole Life Insurance? Whole life insurance offers lifelong coverage and includes a cash value that grows over time. Pros: Lifetime protecti...