Q: What is the difference between whole life and term insurance?
A: Whole life insurance is an investment vehicle as well as an insurance
policy: the cash value of the policy increases with each premium you pay, and you can eventually withdraw or borrow
against the money. Term insurance is valid only for the length of time specified in the policy. If you die within the term
of the policy, there will be a payout, but otherwise the policy has no cash value.