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Term is protection for a stretch of years. Whole life is protection for life plus a savings element. They are priced very differently, so a side-by-side view helps.
How the numbers are made
The term price is based on age and term length. Whole life is shown at about eight times that monthly amount, a common ratio for healthy adults. The tool then totals what you would pay and grows the monthly gap at your chosen return.
How to read it
A big invested figure suggests term plus investing could do more for you. If you need cover that can never lapse, or an estate plan, the permanent price may be worth it.
Try this
Switch between 10, 20 and 30 years to see how longer terms change the picture, then ask insurers for the whole life cash value table and compare.
Caveat
Dividends and returns are not guaranteed, and real quotes vary. This is for learning, not buying.
Common questions
Why is whole life so much dearer?
It covers you permanently and builds cash value, so the insurer has to collect much more.
Can term become permanent?
Some policies allow conversion. Ask before you sign.