Whole life insurance and permanent life insurance are often used interchangeably, but there are some differences between the two. Whole life insurance is a type of permanent life insurance that provides coverage for the entire lifetime of the insured, as long as premiums are paid. It also has a cash value component that grows over time and can be borrowed against or withdrawn. Permanent life insurance, on the other hand, is a broader category that includes various types of policies, such as whole life, universal life, and variable life insurance. While whole life insurance is a specific type of permanent life insurance, not all permanent life insurance policies are whole life. For example, universal life insurance offers more flexibility in premium payments and death benefits compared to whole life insurance. In summary, whole life insurance is a specific type of permanent life insurance, distinguished by its fixed premiums, guaranteed cash value growth, and lifelong coverage, whereas permanent life insurance encompasses a broader range of policies with varying features and benefits.