Term vs Whole Life Insurance Calculator

Compare a whole life policy’s cash value with investing the premium difference after buying cheaper term insurance.

Your numbers

Term + invest ahead by$262,032
Invested difference
$452,032
Whole life cash value
$190,000
Annual premium difference
$5,400
Invested difference over time
$0$200K$400K$600K0481216202428Term + invest · 0: $0.00Term + invest · 1: $5,551Term + invest · 2: $11,444Term + invest · 3: $17,701Term + invest · 4: $24,344Term + invest · 5: $31,397Term + invest · 6: $38,884Term + invest · 7: $46,833Term + invest · 8: $55,273Term + invest · 9: $64,233Term + invest · 10: $73,746Term + invest · 11: $83,845Term + invest · 12: $94,568Term + invest · 13: $105,951Term + invest · 14: $118,037Term + invest · 15: $130,868Term + invest · 16: $144,491Term + invest · 17: $158,954Term + invest · 18: $174,309Term + invest · 19: $190,611Term + invest · 20: $207,918Term + invest · 21: $226,293Term + invest · 22: $245,802Term + invest · 23: $266,513Term + invest · 24: $288,502Term + invest · 25: $311,847Term + invest · 26: $336,632Term + invest · 27: $362,946Term + invest · 28: $390,883Term + invest · 29: $420,543Term + invest · 30: $452,032Whole life cash value · 0: $0.00Whole life cash value · 1: $823Whole life cash value · 2: $2,495Whole life cash value · 3: $4,773Whole life cash value · 4: $7,562Whole life cash value · 5: $10,807Whole life cash value · 6: $14,468Whole life cash value · 7: $18,515Whole life cash value · 8: $22,925Whole life cash value · 9: $27,679Whole life cash value · 10: $32,761Whole life cash value · 11: $38,158Whole life cash value · 12: $43,858Whole life cash value · 13: $49,850Whole life cash value · 14: $56,126Whole life cash value · 15: $62,677Whole life cash value · 16: $69,495Whole life cash value · 17: $76,573Whole life cash value · 18: $83,906Whole life cash value · 19: $91,488Whole life cash value · 20: $99,313Whole life cash value · 21: $107,377Whole life cash value · 22: $115,674Whole life cash value · 23: $124,201Whole life cash value · 24: $132,953Whole life cash value · 25: $141,927Whole life cash value · 26: $151,118Whole life cash value · 27: $160,525Whole life cash value · 28: $170,142Whole life cash value · 29: $179,968Whole life cash value · 30: $190,000
  • Term + invest
  • Whole life cash value

How the term vs whole life insurance calculator works

We invest the annual premium difference between whole and term at your return rate and compare it with the whole life cash value at the end of the period.

Example

Using the default inputs (Term premium / yr: $600; Whole life premium / yr: $6,000; Whole life cash value at end: $190,000; Investment return: 6%; Years: 30), the calculator returns term + invest ahead by of $262,032. Change any field above to see your own result and charts update instantly.

Good for these goals

term vs whole lifeis whole life worth itbuy term invest the differenceprotect my familylife insurance cost comparison

Frequently asked questions

Is whole life ever better?

For estate planning, lifelong dependents or maxed-out accounts it can help, but for most families term plus investing wins.

What is cash value?

The savings component of permanent insurance that grows slowly and can be borrowed against.

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Estimates are for educational purposes only and are not financial, tax or legal advice. Results depend on your inputs and simplified assumptions; tax figures reflect 2026 federal rules and may differ from your situation. See our disclaimer. © 2026 FinanzCalc.