Honestly. It depends.  Your main consideration should be the duration of the coverage. Term life insurance, which is generally sold with terms of five, 10, 15, 20, 25, or 30 years, may help your children prepare for college or other future endeavors, for instance, if you have young children. Alternatively, if your child is currently not in college and supports himself or herself, a shorter policy period may be more suitable. Other considerations would be the length of your mortgage and the number of years until you retire.