What distinguishes whole life insurance from term life insurance?

Whole life insurance is a type of permanent life insurance that provides coverage for the insured's entire lifetime (as long as premiums are paid), features level premiums, and accumulates a guaranteed cash value the policyowner can borrow against. Term life, by contrast, covers only a specified period and builds no cash value. Whole life premiums are higher than term because part of the premium funds the cash value and the guarantee of lifelong coverage. The cash-value and lifetime-coverage features are the defining characteristics that distinguish whole life from temporary term insurance, a commonly tested distinction.