Whole Life insurance is permanent and does not expire. A portion of the premium goes toward insuring your life while the other goes into an investment account. Unfortunately, the high overheads detract from the return on investment. Young families with large financial obligations are usually better off with term life insurance . The substantially lower premiums enable them to purchase sufficient coverage to protect against loss of income.
Most families are tragically underinsured .
Whole life insurance is sometimes purchased by people for tax and estate planning purposes. You should consult with your financial advisor. The top term life insurance companies are the most competitive carriers. This term insurance agent has almost 30 years experience. Get instant term insurance quotes before contacting an agent in person.