You'll be able to decide what's best for your situation when you know the facts. It is true there are many types of life insurance policies. However, all policies are either term, cash-value, a variation of one, or a combination of the two. Term Insurance Consumer educators recommend that most buyers choose term insurance in order to be able to afford adequate coverage. The recommendation assumes you will build financial assets as you grow older, thus lowering the need for life insurance.
Term insurance provides the most protection for the money.
It is similar to automobile, property, and health insurance as it pays only if there is a loss. If the insured dies during the policy term, the beneficiary is paid the face value of the policy. Coverage is provided for a specific time or term, usually 1-5 years, or as long as 10 to 20 years. Many policies can be renewed repeatedly, which means they potentially provide lifelong coverage. Some policies provide protection through age 100, others only to age 65 or 70.