How much does whole life insurance cost compared to term life?

Key details about whole life insurance

The gap depends on your age, health, coverage amount, and term length, so the clearest comparison is a term quote and a whole life quote for the same coverage amount and the same applicant.

The higher cost reflects the certainty of a payout and the added savings component — whether that tradeoff makes sense depends on whether you need coverage for a limited time or for the rest of your life.