Skip to Content
Multigenerational family talking on couch representing that different stages require different insurance policy types.
Policy Types

How Gen Z can benefit from paying whole life insurance rates

When you're young it may be tempting to opt for the least expensive life insurance offerings. But when you consider ideas like coverage that can last for a lifetime, you may want to take a closer look.

Gen Z is coming of age and it can be hard to sell to them when it comes to life insurance. When they do buy, they're usually drawn to the less expensive rates that can come with a simple term life insurance policy. But most Gen Zers probably aren't fully aware of all the perks that come with paying more for whole life insurance rates.

Permanent life insurance vs. Term life insurance

While term life insurance can be extremely affordable, the policy expires within a set term such as 10, 20 or 30 years. Generally, your policy will end when the term expires, and if you choose to renew your term life insurance policy, your premiums will not be quite as affordable as they were during your first term.

Permanent life insurance on the other hand, never expires (as long as you pay your required premiums on time). It's essentially a life insurance policy that is designed to last a lifetime. Permanent policies such as whole life insurance or universal life insurance also have the potential to build cash-value that you may be able to borrow against or allow to grow.*

Locking into whole life insurance rates

Gen Z may have an advantage when it comes to locking in more affordable whole life insurance rates. While whole life insurance rates are generally higher than term, they'll be more affordable if you establish a policy while you're young and healthy, rather than waiting until you are older. By doing so, you'll have a permanent life insurance policy with premiums that will never increase as long as you continue to pay your premiums.

If you have more questions about the differences between whole life insurance rates, universal life insurance rates, and term life insurance rates, you may want to consult a financial professional.


*Loans against the policy accrue interest and decrease the death benefit and cash value by the amount of the outstanding loan and interest.



Arrows linking indicating relationship

Related Articles

Happy family celebrates with food and drinks outside their RV

Get smarter about your RV insurance

Learn more
Young couple looking happy to be together.

Guaranteed issue life insurance

Learn more
Concerned woman looking as though she may face uncertainties and may need critical illness or disability insurance.

Critical illness and disability insurance differences

Learn more
All Learning Center articles are general summaries that can be used when considering your financial future at various life stages. The information presented is for educational purposes and is meant to supplement other information specific to your situation. It is not intended as investment advice and does not necessarily represent the opinion of Protective or its subsidiaries.

Learning Center articles may describe services and financial products not offered by Protective or its subsidiaries. Descriptions of financial products contained in Learning Center articles are not intended to represent those offered by Protective or its subsidiaries.

Neither Protective nor its representatives offer legal or tax advice. We encourage you to consult with your financial adviser and legal or tax adviser regarding your individual situations before making investment, social security, retirement planning, and tax-related decisions. For information about Protective and its products and services, visit

Companies and organizations linked from Learning Center articles have no affiliation with Protective or its subsidiaries.