What Is The Best Type Of Life Insurance To Buy? 
There is no such thing as best life insurance to buy . It all depends on your need and your stage in life . If you are in your 20s and 30s then a whole life policy may be appropriate since it tends to be more affordable in this state of your life . In your 40s and 50s a 30 year term may make much sense when a retirement investment is also created to parallel to term life so that if the policy expires in your 70s or 80s , your retirement savings will take care of burial cost in the invent of death . Remember always contact your financial advisor before you act . One thing to remember about whole life is that your premium goes to two places : Insurance and investment . Lets say you are paying $ 160 per month for whole life policy . $ 100 may go towards your insurance and $ 60 may into an investment account that yields some interest . Let say you purchased a face amount $ 500,000 and you were aged 30 when you bought it . Forty years latter at age 70 your saving has generated about $ 400,000 . If you die , your beneficiary will receive the insurance face amount of $ 500,000 but not the $ 400,000 in saving/investment account , That amount remains with the insurance company . You can withdraw your $ 400,000 as a loan while you are alive and has to paid back to the insurance company . If it is not paid then your insurance face amount will be reduced by loan balance upon your death . In short your beneficiary will receive $ 100,000 upon your death . Term life insures you only for a fix number of years usually 10,20 or 30 and policy expires or renews at a much higher rate You may also become un insurable at policy expiration . Remember to talk to your financial adviser 