What's the difference between term and whole life insurance?

Insurance can be something people have questions on. But it shouldn’t be confusing – that’s why we’re here to make it easy to navigate. One question that comes up frequently: What’s the difference between WHOLE life insurance and TERM life insurance.

The most basic and simple way to explain the difference is that term insurance ends, just as its name implies. You pay it every month or every year, and the only way it ever pays out is if the policy holder passes away.

Whole life insurance is permanent. It also acquires cash value, and as you build that value it can be used for something like a loan or education expenses. As always talk to your insurance carrier about life insurance or any questions you might have.

Mosher & Associates isn’t just insurance. It’s insurance, personalized. With offices in Argyle, Evansville, Monroe, and New Glarus, our Team of Specialists is ready to provide you with the best coverage for your unique situation. Check out our Mosher Assessment Process (MAP) at mosherinsurance.com/map/ to see how we can help you. Answer a few simple questions and we’ll start you on the path to insurance, personalized.