Term or whole life? We guide. You decide.

Buy the best type of life insurance for you

Term vs. Whole Life Insurance

 

Compare and choose your policy

Spoiler alert—term life is best for most

Term life insurance

Coverage length

10, 15, 20, 25, 30, or 35 years

Most term life policies can be converted to whole life later on.

Coverage amount

$50,000 to $65 million+

The coverage is based on your net worth.

Cost

Affordable for most.

Whole life policies cost 10 times more than term life.

Features

Fixed premium.
Monthly payment does not change.

Fixed death benefit.
Payout does not change.

Weigh the features versus cost. Consult with our advisors to buy the best policy for your needs.

Whole life insurance

Coverage length

Your entire life.

Some buy affordable term life with a modest whole life policy to cover final expenses.

Coverage amount

$10,000 to $65 million+

The coverage is based on your net worth.

Cost

Affordable for some.

Whole life policies cost 10 times more than term life.

Features

Fixed premium.
Monthly payment does not change.*

Fixed death benefit.
Payout does not change.*

Accumulates cash value at guaranteed rate.
Gains on your investment are tax-deferred.

Borrow against policy value or surrender for cash.
Get tax advice before you do.

*Some premiums and death benefits increase over time. Our advisors can point out the benefits of policies structured in this way.

Term life insurance

Coverage length

10, 15, 20, 25, 30 years

Most term life policies can be converted to whole life later on.

Coverage amount

$50,000 to $65 million+

The coverage is based on your net worth.

Cost

Affordable for most.

Whole life policies cost 10 times more than term life.

Features

Fixed premium.
Monthly payment does not change.

Fixed death benefit.
Payout does not change.

Weigh the features versus cost. Consult with our advisors to buy the best policy for your needs.

Whole life insurance

Coverage length

Your entire life.

Some buy affordable term life with a modest whole life policy to cover final expenses.

Coverage amount

$10,000 to $65 million+

The coverage is based on your net worth.

Cost

Affordable for some.

Whole life policies cost 10 times more than term life.

Features

Fixed premium.
Monthly payment does not change.*

Fixed death benefit.
Payout does not change.*

Accumulates cash value at guaranteed rate.
Gains on your investment are tax-deferred.

Borrow against policy value or surrender for cash.
Get tax advice before you do.

*Some premiums and death benefits increase over time. Our advisors can point out the benefits of policies structured in this way.

How much life insurance do you need?

Figure out your action plan with our needs calculator

What life insurance can do for you

Take care of your kids

What life insurance can do for you: Life insurance can pay for child care and other daily necessities that you as a stay-at-home or working parent do or pay for.

Best option: Term life insurance to cover the years when your children are dependent on you for their well-being.

Provide for a special-needs child

What life insurance can do for you: Life insurance can provide for the well-being of a special-needs or disabled child.

Best option: Permanent life insurance as part of a trust established to care for your child.

Pay child support

What life insurance can do for you: Divorced parents can use life insurance to secure the financial future of their child as part of a divorce settlement with child support.

Best option: Term life insurance to cover the years of support payments.

Replace your earned income

What life insurance can do for you: Life insurance can replace your earned income to help your family pay daily expenses. If you as the breadwinner would die, your life insurance would provide for your family.

Best option: Term life insurance to cover your income-earning years.

Cover your personal debt or co-signed loans

What life insurance can do for you: Life insurance can repay personal debt such as your credit cards or student loans. Name as your beneficiary your loan co-signer or someone who would have to repay your debt if you would die.

Best option: Term life insurance that ends when your debt or loans will be paid off.

Pay off business debt or taxes

What life insurance can do for you: Life insurance can pay off your business debt, pay taxes if ownership of your business is transferred as part of your estate, or pay for a business partner to buy out your share via a buy-sell agreement.

Best option: Term life or permanent life insurance depending on your goal as a business owner. Our advisors can help you determine which option is best.

Cover your mortgage

What life insurance can do for you: Homeowners can use life insurance to cover mortgage payments. Your family will not have to move if you die.

Best option: Term life insurance coverage for the duration of your mortgage.

Supplement your retirement

What life insurance can do for you: Life insurance can supplement your retirement savings.

Best option: Permanent life insurance that accrues a cash value is used by investors within a wealth management or retirement plan.

Leave an inheritance

What life insurance can do for you: Use life insurance to leave an inheritance for your family.

Best option: Permanent life insurance will pay out to your heirs no matter when you die.

Cover estate taxes

What life insurance can do for you: Provide money for your heirs to pay taxes on an inheritance.

Best option: Permanent life insurance is best when used as part of an estate plan.

Pay for your funeral or final expenses

What life insurance can do for you: Your memorial service and final expenses can be paid for by life insurance.

Best option: Permanent life is sometimes called burial insurance. These policies cover the costs of your final wishes.

Share your wealth via charitable giving

What life insurance can do for you: Your life insurance policy can be used to benefit a nonprofit or charitable cause you care about.

Best option: Permanent life insurance used as part of your estate plan.

Your love. Our life insurance.

Protect your loved ones with affordable term life

Life insurance made easy

Accurate quotes.
Guaranteed prices.

Our rates come from the insurance carriers. We compare the best rates for your policy options, so you don’t have to shop agent-to-agent. Insurance prices are regulated, so you won’t find better rates—even if you worked directly with the insurer. This saves you time and money.

Hassle-free from
quote to coverage.

When you apply through Quotacy, our experts shop your case and advocate for you. Our team will take care of the paperwork. We go back-and-forth with the insurance companies so that you don’t have to.

Expert advice.
Easy communication.

Complete your application online with Quotacy. Our team works on salary, not commission. They will advocate for what is best for you. Take care of everything online or livechat, text, email, or talk with our care team whenever you need help.

What our customers say about Quotacy

Mike
Too simple

Using Quotacy made things so simple, I literally couldn't believe the process was done, when it was done. I still really can't believe it. Thank you to Jason and the Quotacy team for helping me navigate what would have been a daunting task if I had to undertake it on my own.

five stars

Kevin
Buying life insurance just got a lot easier with Quotacy

I had a great experience with Quotacy buying my first term life insurance policy. I had sought quotes from other internet-based companies like Quotacy but Renee and her colleagues were the fastest to respond and quoted me a variety of companies/plans at prices that seemed to be at or below what I found with other companies or direct from insurance companies. When I selected the best plan for my needs, Renee explained the paperwork process and setting up the health screening as painless as possible. She even followed up with a nice personalized card to say thanks for choosing Quotacy. It was so nice having the consistent follow-up and getting questions answered immediately that wasn't at all pushing one company or product.

five stars

Tim
Great way to purchase life insurance!

Quotacy is THE way to buy life insurance. Through one request for quote got the best deal and great customer service. Would recommend Quotacy to everyone for your life insurance needs.

five stars

Prathima
Quick and easy

From the beginning to the end of getting my policy I received important updates and status of where my application was. If I had a question I was given a timeline of when I can hear back. I heard back no more than 24 hours.

five stars

Raj
Best representatives

Quotacy has done a great job from start to finish in getting my insurance policy set up. They have the easy to use website and great representative.

five stars

Gregory
Easy as 1, 2, 3

I give Quotacy the highest rating because of how incredibly easy it was to go through the entire process. They were in frequent contact and the communication was concise and made me feel like they were taking care of everything at every step. So far, so good. I have zero complaints. It has been as easy as 1, 2, 3. Thank you very much for your efforts.

five stars

Kim
Wonderful experience with Quotacy

Thanks to the staff at Quotacy the process of buying life insurance was very positive and painless. From initial contact with the team to the day my policy became active everything was seamless. The communication from my agent was exceptional. He guided me through the process every step of the way and made sure I got the best policy at the best price. I would definitely recommend the Quotacy team!

five stars

Abbey
Highly recommend

Renee and Brandon at Quotacy were highly responsive, and had excellent communication and follow-up. They answered all my questions and facilitated everything from start to finish. When I got too busy with other things to focus on finalizing my life insurance paperwork, they followed-up on important milestones without being overly pushy. I also have peace-of-mind knowing that I shopped around to get the best price without actually having to do the legwork myself. Overall, I think the process was as smooth as possible with their help, and I'd definitely recommend Quotacy to others.

five stars

Erik
Best price with great customer service

Quotacy got me the best price for my life insurance with a major company and stepped me through the process the whole way. They were very quick and thorough when responding to my inquiries. I would highly recommend using Quotacy!

five stars

Jung
Fast and efficient service

From initial quote, to medical exam, to the final paper work, Quotacy provided fast and efficient service. They walked me through the life insurance application process and kept me well-informed through the entire process.

five stars

Scott
Very smooth process

I found the process of applying for a life insurance policy through Quotacy to be very smooth with excellent communication throughout. What drew me to the site was the ease of policy cost comparison between the insurers based on a simplified questionnaire. From that point, there were frequent and personalized email updates keeping me informed every step of the way, which led to a policy customized for my needs. I recommend Quotacy for anyone shopping for life insurance.

five stars

Loren
Amazing agent

My agent Jason was phenomenal. I had many questions about purchasing life insurance—which is a somewhat overwhelming decision because you obviously want to purchase what's right for you. My agent was exceptional at answering questions and giving me as much detail as possible regarding everything. In a world full of many agencies, I can say I am happy with the one I chose. Thank you so much.

five stars

James
A pain-free experience

I read some reviews about various insurance quote sites, and I decided to try Quotacy. I found the process extremely easy, and the web application was smooth and polished (kudos to the design and dev team!). I think the highlight of the entire process, however, was having real people communicate with me via email. The emails weren't "template emails" but real correspondence with me during the entire process, and my rep kept me in the loop from start to finish. I don't know how other sites do because I haven't tried them, but I am very impressed with Quotacy.

five stars

Reviews from TRUSTPILOT

Learn more about term vs. whole life

What is term life insurance?

Term life insurance is an affordable option if you need coverage for 10, 15, 20, 25, or 30 years. Your payment is fixed for the entire length of the policy and the amount of the payout to your loved ones—if you were to die within the term—is fixed when you buy the policy.

Learn more: What is Term Life Insurance and How Does it Work

 

Get your quote  Estimate your needs

How much does life insurance cost?

Term life insurance is generally less expensive than whole life or universal life. Both types of permanent life insurance offer lifelong coverage and cash value features that make them more costly. Your price for life insurance depends on your age, gender, smoking status, medical history, and how much life insurance you buy for how long.

Learn more: How Much Does Life Insurance Cost?

 

Get your quote  Estimate your needs

Should I buy term or whole life?

Term life insurance is the right choice for most. A whole life insurance policy may be purchased to supplement term life insurance to cover final expenses, protect a special needs child, or to provide tax advantages for large estates.

Learn more: Is Term Life Insurance Better than Whole Life Insurance?

 

Get your quote  Estimate your needs

What is universal life insurance?

Universal life (UL) is permanent life insurance with a high degree of flexibility related to its expense, protection, and cash value elements.

Learn more: How Much Does Life Insurance Cost?

 

Get your quote  Estimate your needs

What is permanent life insurance?

Permanent life insurance covers your entire lifetime. The policy increases in cash value over time. It is more expensive than term life due to the accrual of cash value and that it will pay out at the end of your life.

Learn more: The Differences Between Term and Permanent Life Insurance

 

Get your quote  Estimate your needs

What is whole life insurance?

Whole life insurance coverage lasts your entire life. The policy accrues cash value over time.

Learn more: How Much Does Life Insurance Cost?

 

Get your quote  Estimate your needs

Should I buy permanent life insurance?

A permanent life insurance policy may benefit you if:

  • You have a disabled or dependent child with long-term care needs
  • You have a large estate and need a policy with tax advantages
  • You want to leave an inheritance

Learn more: Do I Need Permanent Insurance?

 

Get your quote  Estimate your needs

What is cash value?

Cash value is the savings component of a permanent life insurance policy. A portion of your premium pays for life insurance coverage equal to the face value of the policy. The remainder builds the cash value from interest gained via conservative investments made by the insurance company.

You may borrow or withdraw your cash value at any time.

  • If you take a loan from your policy, you will pay interest until it is repaid. If you die before it is repaid, the carrier will reduce the death benefit your beneficiaries receive by that unpaid amount.
  • If you withdraw from your policy, you will owe income taxes if the amount is more than what you have paid in premium payments. Otherwise it’s tax-free.

Learn more: How Much Does Life Insurance Cost?

 

Get your quote  Estimate your needs

Questions? Need advice?

Livechat, text, email, or talk with our experienced advisors

29,600

Families and businesses protected

$20 Billion

That’s over $20 billion in life insurance coverage

29,600

Families and businesses protected

$20 Billion

That’s over $20 billion in life insurance coverage

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