How Much Whole Life Insurance Do I Need? 
There is n't a correct answer to this question , only the answer each individual comes to in regard to their wants and needs . The catch to the decision of when or how much to buy is the longer you wait the more expensive it becomes to purchase . Something to consider that rarely is considered is the purchase of Whole Life insurance is control . A whole life is the one policy where the price is set at the begining and stays that way through the life of the policy . With term the insured does not really control cost the insurance carrier does through the life of the policy . An insurance company can not change or alter a whole life policy without your permission . Since you can combine policies and types of coverage -LRB- it is never all or nothing -RRB- how much whole life is entirely up to you . The split is up to the individual . Some people carry combinations of policies with the idea that they will shed the term as time goes by , ending up with the whole life at the end of a long happy life . Last thought on this subject . An insurance company has less power over the insured with whole life . They have to `` ask '' you and you have to agree to any changes . Where this can be reassuring is if your health changes down the road . I have several serious health conditions and it is good to know my life insurance company can not raise my price or change anything without my say so . 