# Term Versus Whole Life Scenario Calculator — Canada

> Compare transparent cash-value scenarios using equal coverage needs and an actual guaranteed policy illustration. CAD planning view; stated limitations apply.

Page: https://askcalculators.com/ca/term-vs-whole-life/
Definition: https://askcalculators.com/ca/term-vs-whole-life/definition.json
JSON Schema: https://askcalculators.com/ca/term-vs-whole-life/schema.json
Version: 20.16.0
Maintained by: AskCalculators (software project; not a credentialed reviewer)
Qualified review: pending. Automated checks do not establish professional approval.
Page status: Live
Review status: Pending

## Use
Open the calculator page and enter values. Query-string parameters can restore and bookmark a calculation.
Example: https://askcalculators.com/ca/term-vs-whole-life/?termAnnual=700&wholeAnnual=6000&years=20&investmentReturn=4&guaranteedCashValue=90000&surrenderCharges=0

## Inputs
- termAnnual: Comparable term annual premium; type=money; required; default=700; min=0; max=1000000000000
- wholeAnnual: Comparable whole-life annual premium; type=money; required; default=6000; min=0; max=1000000000000
- years: Comparison horizon, years; type=number; required; default=20; min=1; max=80
- investmentReturn: Assumed net investment return; type=percent; required; default=4; min=0; max=30
- guaranteedCashValue: Illustrated guaranteed cash surrender value at horizon; type=money; required; default=90000; min=0; max=1000000000000
- surrenderCharges: Charges not already deducted in cash value; type=money; required; default=0; min=0; max=1000000000000

## Outputs
- annualDifference: Annual premium difference; format=currency
- investedDifference: Value of end-year invested premium differences; format=currency
- netCashValue: Entered net guaranteed cash value; format=currency
- difference: Invested difference minus net cash value; format=currency; primary

## Formula
invested difference = sum of equal annual premium differences accumulated from each year end at the entered return.

Inputs are converted to canonical units before evaluating this stated formula.

## Rules
- Empty optional inputs are undefined, not zero.
- Hidden conditional inputs are ignored.
- Do not invent missing required inputs.

Notice: Illustrative defaults are not local quotes or verified legal rules. Dated reference components and user-entered assumptions are explicitly distinguished. Professional review is pending.