Decreasing term is really affordable

Figures applicable for male, age 30.

If you buy a whole life policy for $200,000 to cover death, disability and 30 dread disease, you pay a monthly premium of $418.50.

If you buy a 30 year decreasing term to cover the same risks, you pay a monthly premium of $29.10. This is only 7% of the whole life premium.

You can invest the remaining 93% (ie $389.40) in a large, well diversified, low charge fund and earn an attractive return.

In 30 years, time, the total saving (with investment gain), and after deducting 5% for expenses, will be more than the sum assured of $200,000.

Assume 4% per annum: $253,000
Assume 6% per annum: $361,000