SBLI USA Mutual Life Insurance Company, Inc.
S.USA Life Insurance Company, Inc.
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Term vs. Whole Life Insurance 
Term vs. Whole Life insurance... What's the difference? What are the advantages of each? If you are trying to decide whether you need Whole Life or Term Life insurance, read this list of commonly asked questions. 
 
What are the different kinds of life insurance? 
SBLI USA offers the two basic types of life insurance: Term Life and Whole Life. Each offers its own set of advantages.

What is the difference between Term and Whole Life insurance?
Term Life insurance provides coverage for a specific period of time only. While it is generally the least expensive type of life insurance, Term Life premiums can increase as you grow older. With SBLI USA Term Life policies , you can renew your coverage up to a certain age (designated in the policy) and convert your coverage to an eligible SBLI USA Whole Life insurance policy at any time your policy is in inforce.

Whole Life insurance - often called "permanent" life insurance - provides coverage your whole life through. While premiums may be initially higher than those of Term Life, they stay level throughout the duration of your coverage. Whole Life also features cash value that builds over time, tax-deferred. This value may be borrowed against for a variety of purposes.†

Term vs. Whole Life: The Basics

 

Term Life Insurance

Whole Life Insurance

This insurance is best for:

People who are seeking affordable "pure" life insurance. With Term Life insurance, the entire premium goes toward the death benefit. Term Life insurance is particularly useful in the early stages of life when people have many obligations and few assets.  Click here to get help choosing a product that meets your needs.

Anyone who is looking for a lifetime of protection. The protection never decreases†   and the premiums never increase. Click here to get help choosing a product that meets your needs.

Coverage Terms

Term Life insurance policies range from 1 year to 30 years.* At the end of the term, the policy can be renewed or converted to an eligible Whole Life policy. If converted to Whole Life, no medical exam is necessary. Coverage amounts are available from $100,000 to $1,000,000 and more.**

Whole Life insurance is permanent life insurance.  The coverage is active as long as the premium is paid when due. Whole Life policies are available in amounts from $5,000 to $1,000,000.**

Cash Value

Term Life insurance policies have no cash value.

SBLI USA's Whole Life insurance policies build tax-deferred cash value; borrow against it for any reason.



Which type of insurance is best for me -- Whole Life or Term Life insurance?
The type of life insurance that is best for you and your family is determined by your goals, budget and life stage. For instance, if you are just starting out, a Whole Life policy or a 30-year renewable and convertible Term Life insurance policy might be your optimal choice. Browse through our Plan Your Life section for more information on how specific life events can affect your life insurance choice. And be sure to check out the handy Which is Better: Term Life or Whole Life? calculator.

Of course, the fastest and easiest way to determine what life insurance policy matches your needs, is to call one of our Sales Advisors toll free at 1-866-SUSA-WEB. They will give you friendly, honest suggestions on how to make the right life insurance choice. You can also fill out the convenient Help Me Choose form.		 
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* Product terms vary by state.
** Subject to underwriting requirements and reinsurance availability
† Loans against the policy will reduce the death benefit amount by the sum owed.		 
 
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