Compare the total cost and value of term life insurance versus whole life insurance over your expected policy period. The difference can be hundreds of thousands of dollars.

When and Why to Use This Calculator

Use this insurance calculator when evaluating coverage options, comparing policies, or deciding how much coverage you need. Always consult a licensed insurance agent for personalised advice.

Worked Example

30-year-old male: $500,000 term policy costs $25/month ($9,000 over 30 years). Equivalent whole life policy costs $400/month ($144,000 over 30 years). Term plus investing the difference typically wins.

How to Use This Calculator

• Step 1 — Enter your values into the fields above.
• Step 2 — Press Calculate to see your result instantly.
• Step 3 — Review the formula to understand how the result was reached.
• Step 4 — Use Copy Result to copy your answer, or Reset to start over.

No sign-up required. The Insurance Term vs Whole Life Insurance is completely free on any device.