Whole life insurance California is also known as permanent insurance, which gives protection to a person for a lifetime. Permanent insurance has no expiration and you don’t need to renew it unlike term insurance. The premiums depend on your age at the time you purchased it, and the premium cost will remain. The cost will not increase as your age. Hence, the younger you are when you purchase the insurance, the lower the cost of your premium will be. Since your premiums remain, whole life insurance is more costly than other life insurance coverage. Yet, whole life insurance accumulates cash value, in other words it can be refundable upon you stop the policy. While the insurance is in force, cash values can be used to pay premiums.