What Life Insurance Should I Have? 
The type of life insurance you purchase should meet your purposes for your policy . If you have a temporary need -LRB- e.g. to raise your children if you passed away while they were young -RRB- , Term insurance has the lowest cost per thousand dollars of coverage . If you have a permanent need -LRB- e.g. want to pass an inheritance to your grandchildren -RRB- , Whole or Universal Life is needed so that it is assured to stay in effect until your death . 