Term Or Whole Life Insurance Which Is Better? 
Whole is definitely better , if you can afford the start up years -LRB- 1-3 -RRB- . Term will give you more coverage at the start , for a smaller fee , so it is good for those with low income starting out . But once you can pay the whole life amount , it ends up being cheaper , because it is yours forever , the price never goes up , and you can borrow against it and fund college or a house tax free . 