When Is It A Good Idea To Buy Whole Life Insurance? 
My rule of thumb is that the younger you are , the more you should consider term life insurance . I have only provided whole life insurance to older adults on a budget that would pay more for term insurance at their current age . If you are older than 50 , whole life insurance may be a better option because it may be cheaper than term at that point . If you are younger than 50 , I would go for term insurance . It is less expensive for you and you can get more coverage than whole life . 