{
  "$schema": "https://json-schema.org/draft/2020-12/schema",
  "$id": "https://askcalculators.com/us/term-vs-whole-life/schema.json",
  "title": "Term Versus Whole Life Scenario Calculator — United States inputs",
  "description": "Compare transparent cash-value scenarios using equal coverage needs and an actual guaranteed policy illustration. USD planning view; stated limitations apply.",
  "type": "object",
  "properties": {
    "termAnnual": {
      "title": "Comparable term annual premium",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 700,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "wholeAnnual": {
      "title": "Comparable whole-life annual premium",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 6000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "years": {
      "title": "Comparison horizon, years",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 20,
      "minimum": 1,
      "maximum": 80,
      "x-step": 1,
      "multipleOf": 1
    },
    "investmentReturn": {
      "title": "Assumed net investment return",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 4,
      "minimum": 0,
      "maximum": 30,
      "x-step": 0.1,
      "x-unit": "percent"
    },
    "guaranteedCashValue": {
      "title": "Illustrated guaranteed cash surrender value at horizon",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 90000,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    },
    "surrenderCharges": {
      "title": "Charges not already deducted in cash value",
      "type": "number",
      "description": "Illustrative starting value; replace with your own evidence.",
      "default": 0,
      "minimum": 0,
      "maximum": 1000000000000,
      "x-step": 0.01,
      "x-prefix": "USD",
      "x-unit": "currency"
    }
  },
  "required": [
    "termAnnual",
    "wholeAnnual",
    "years",
    "investmentReturn",
    "guaranteedCashValue",
    "surrenderCharges"
  ],
  "additionalProperties": false,
  "x-askcalculators": {
    "version": "20.16.0",
    "calculatorUrl": "https://askcalculators.com/us/term-vs-whole-life/",
    "queryExample": "https://askcalculators.com/us/term-vs-whole-life/?termAnnual=700&wholeAnnual=6000&years=20&investmentReturn=4&guaranteedCashValue=90000&surrenderCharges=0",
    "migrationStatus": "new",
    "reviewStatus": "pending",
    "pageStatus": "live",
    "workStatus": "pending",
    "formula": {
      "expression": "invested difference = sum of equal annual premium differences accumulated from each year end at the entered return.",
      "note": "Inputs are converted to canonical units before evaluating this stated formula."
    },
    "quality": {
      "availability": "live",
      "technicalReviewRecord": "/reviews/v20-us-term-vs-whole-life.json",
      "qualifiedReview": "pending",
      "qualifiedReviewer": null,
      "qualifiedReviewDate": null,
      "formulaVersion": "20.16.0",
      "referenceCoverage": "references-listed",
      "releaseTestScope": "Catalog and regression checks are not a professional formula audit; consult release evidence.",
      "historicalMetadataDate": "",
      "historicalMetadataNotice": "The imported date is not evidence of a completed human review."
    },
    "outputs": {
      "annualDifference": {
        "title": "Annual premium difference",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "investedDifference": {
        "title": "Value of end-year invested premium differences",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "netCashValue": {
        "title": "Entered net guaranteed cash value",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2
      },
      "difference": {
        "title": "Invested difference minus net cash value",
        "type": "number",
        "x-format": "currency",
        "x-currency": "USD",
        "x-digits": 2,
        "x-primary": true
      }
    }
  }
}