What Is the Most Expensive Type of Life Insurance?

by Alibaster Smith ; Updated July 27, 2017

Whole life insurance is considered to be the most expensive type of life insurance. Its premiums can be as much as five to 10 times more expensive than term life insurance premiums.


The benefits of whole life insurance are that it builds a cash value savings that can be used to supplement your future retirement income. The cash values can also be used for any other purpose you desire.


The amount of death benefit you are able to purchase compared to the premium you pay is much lower when compared to term life insurance. This often makes getting the right amount of death benefit difficult through a whole life insurance policy.


Make sure that you get the proper amount of death benefit protection. This might mean purchasing a different type of life insurance policy. However, it's important to consider that the primary purpose of life insurance is to insure your financial obligations.


  • "Life Insurance"; Kenneth Black, Jr., Harold D. Skipper, Jr.; Prentice-Hall Inc.; 1994
  • "Practicing Financial Planning for Professionals (Practitioners' Edition), 10th Edition"; Sid Mittra, Anandi P. Sahu, Robert A Crane; 2007

About the Author

I am a Registered Financial Consultant with 6 years experience in the financial services industry. I am trained in the financial planning process, with an emphasis in life insurance and annuity contracts. I have written for Demand Studios since 2009.