Find & compare doctors, hospitals, & other providers. Hospitals, nursing homes, home health agencies, medical item suppliers, health care providers, health and drug plans, dialysis facilities. What Part A & Part B doesn't cover. Learn about what items and services Medicare Part A and Part B doesn't cover.
The easiest way to remember the difference is to think of term as temporary insurance and whole life as permanent insurance which remains in force until the day you die, or until you are 120 years of age, whichever comes first.
However, many of them will help define Whole Life and Universal Life as well. 1  Annually Renewable: A type of Term Life Insurance that is renewed every year. The premium increases, but the face value generally remains level. 2  Beneficiary: The person who will receive a cash payment if you die.