Whole Life Insurance
Whole life insurance lasts your entire life with fixed premiums and a guaranteed cash value that grows on a set schedule, making it the most predictable but also the most expensive permanent policy.
- Brand
- Policy type
- Category
- Life Insurance Types
- Released
- Price
- Not published
- VersusAnything Score
- 0/100
Key features
- Lifetime cover with guaranteed payout
- Guaranteed cash value growth
- Fixed premiums for life
Best for people who want guaranteed lifelong cover and forced savings, and can afford the premiums.
whole life insurance specifications
| Coverage length | Lifetime, as long as premiums are paid |
|---|---|
| Builds cash value | Yes, guaranteed growth plus possible dividends |
| Premium structure | Level (fixed) for life |
| Typical monthly cost (healthy 35-year-old, approx.) | Roughly $400-$600 for $500,000 of cover |
| Cost tier (1 = cheapest) | 4 |
| Medical exam | Usually required |
| Flexibility | Low: premiums and benefit are fixed; loans against cash value are allowed |
| Main drawback | Costs 10-15 times more than term; early surrender loses money |
Score breakdown
- Overall (100%)
Scored against every life insurance policy in our database using the life insurance types weighting.
Pros and cons
Pros
- Lifetime cover with guaranteed payout
- Guaranteed cash value growth
- Fixed premiums for life
Cons
- Weaker overall score (0/100 within life insurance types)
Compare whole life insurance against
Alternatives to whole life insurance
- Term Life Insurance 100/100
- Universal Life Insurance 33/100
- Final Expense Insurance 67/100
Sources
- whole life insurance: Policy type official (manufacturer)
Specifications last verified: 2026-10-01. Prices are launch or official list prices in US dollars unless stated. See our sources and data policy.