When Is Term Life Insurance Best? 
Term life insurance is best when you have limited funds to spend on life insurance , when the need for your life insurance protection is temporary , and when you are not counting on the policy for cash value from which to borrow in the future . E.g. . If you want life insurance to pay off $ 200,000 of college loans if you should pass before your debt is paid , a $ 200,000 term policy would fulfill that need at a relatively low cost . 