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Which Is Better: Term or Whole Life?

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Use this calculator to to see what the difference in your payout, cash value, and dividends for a term life policy will be as compared to a whole life policy.

Which is better: term or whole Life?

Policy amount
Current premium amount
Premium payments per year
Premium increase per renewal
Policy term (years)
Average yearly dividend

Claiming the whole life's cash value
Years until you claim cash value
Cash value at that time

Your whole life dividend income is


Personal information
Current age
Years until your death
Your savings rate
Your state + federal tax rate

Information and these calculators are made available by one or more third party service providers. All examples are hypothetical and are for illustrative purposes. SunTrust Bank and its affiliates do not provide legal or tax advice. Information provided and these calculators are not intended to offer any tax, legal, financial or investment advice. SunTrust cannot guarantee that the information provided or the calculators are accurate, complete, or timely. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. SunTrust makes no warranties with regard to these calculators or the results obtained by their use. SunTrust disclaims any liability arising out of your use of, or any tax position taken in reliance on, these calculators. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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