What Life Insurance Is Better Term Or Whole? 
Which life insurance is better , Term or Whole Life ? It is a debate that has great points on both sides . In reality , most people need more life insurance than they can afford to purchase in Whole Life , but they do n't need that large amount of coverage for a lifetime . Term life is an economical choice for large amounts of coverage for relatively short amounts of time . On the other hand , most people need a small amount of final expense coverage , and this can not be Term insurance or there is a risk of it not being in effect at the time of death . Also , Whole Life can be used for estate planning , business succession , and other permanent needs that justify the higher premium , especially when , as Ted stated , cash value builds up to offset it . There is no one right answer for everyone , but there are many choices . A good agent will guide you to find the best policy or policies for your unique needs , desires , and budget . 