Term Insurance vs Whole Life Insurance

Term insurance and whole life insurance are both types of life cover, but they’re built for different purposes.

Term insurance provides a large amount of cover for a fixed period, at a relatively low premium, with no maturity value if you outlive the term. It’s generally suited to those who want maximum protection at the lowest cost — for example, to cover a home loan or years of income replacement.

Whole life insurance is designed to cover you for your entire life (often up to age 99-100) and pays out a sum assured whenever the claim eventually arises. Premiums are typically higher, and it’s often considered for estate or legacy planning.

Neither is universally “better” — it depends on your goals. We’re happy to walk through both with you.

This article is for general educational purposes only and does not guarantee any specific policy terms, returns or claim outcomes.