Permanent life
Whole life insurance
Whole life does not end after 10 or 20 years. The premium is meant to keep the death benefit in force for life, which is why it costs more than term.
How it differs from term
Term ends on a date. Whole life is built to stay in force for life, which is why the monthly cost is higher.
What you keep
A death benefit that does not expire after 10 or 20 years.
Where
Available in British Columbia and Alberta.