Awasome Life Insurance Term Vs. Whole References. Whole life insurance covers you for your entire life. That same policyholder would pay an average of $2,536 per year for just $250,000 in whole life insurance coverage and $1,254 per year for $250,000 in.

Here’s how to decide which type of policy is best for you. What is whole life insurance? However, there are some key differences you should weigh carefully.