Why Term Insurance Over Whole Life? 
It 's not an either or , it 's do you need permanent or temporary life insurance ? If your financial , liabilities , future obligations and charitable intent is temporary , then buy term , if permanent then buy either whole life or guaranteed universal life . Life insurance products generally have maturity dates . permanent life insurance generally can extend to age 121 with some permanent polices using the phrase `` life of the policy insured . '' 