What Is Better Life Insurance Whole Or Term? 
Term insurance is the best for most people because it provides the opportunity to purchase the most coverage for the least premium dollar and frees up more savings dollars or money to pay down debt . In the early years a family needs more protection while their debts are the highest , they have a mortgage , the kids are at home , and loss of income would be devastating . This is where the most life insurance coverage is needed for protection as the cash estate is growing . However , in the later years , when debts are lower or eliminated , the home mortgage is nearly gone , and the children are out of the home , less life insurance is needed and more retirement income is needed . Term insurance is the only type of insurance that will protect with the right amount of coverage without reducing the amount of money to invest . There is no mathematical reason to have cash value life insurance of any type . 