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Term Life vs Whole Life

What is the difference between term life insurance and whole life insurance?

Term life insurance provides life insurance protection for a specific period of time and a cash benefit upon death. Premiums are generally lower than whole life insurance, but can increase as you grow older.

Whole life insurance, sometimes referred to as permanent insurance, provides life-long protection but at a higher initial premium than term life insurance. Along with a cash benefit upon death, whole life insurance accumulates cash value over time.

Is term life insurance or whole life insurance right for me?

It depends. The lower premium of term life insurance is attractive. However, if you want coverage for a period that extends beyond the original policy length, you will need to re-qualify in order to purchase a new policy. This will likely mean a higher premium as you grow older.

Sentry provides a guaranteed convertibility clause that allows you to convert all or part of a Sentry term life policy to a whole life policy during a specified period of time.

Oftentimes, a combination of term and whole life insurance is the right answer.

Let a Sentry sales representative help you design a life insurance protection plan for you and your family.

Click here to Find an Agent.

How much life insurance do I need?Life Policy Customer Service
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