How do I determine if Term or Whole Life Insurance is best for me?

Depends on your age and why you're purchasing life insurance. If it's to cover debt, then term is the way to go. If it's for covering final expenses, whole life would be more suitable for you.

The only time whole life would make sense is if you're pretty certain, based on family history, that eventually you'll have cancer or heart disease and wouldn't be able to qualify later in life.































Most people say take the term policy and invest the difference in premiums into investments like stocks/mutual funds. You'll have much more money in the end.

This is kinda hard to determine here. I say that because life insurance is very customized and very personal. By purchasing it, you are saying to your family that you love them. That you don't want them thinking that you didn't have their best interest at heart. Me, personally, I can only recommend term insurance. While you are young, you need the insurance, but why pay the premiums for whole life, and I include universal, variable and variable universal. When you are older, hopefully you have saved for retirement. If so, then you really have no need for insurance- read this as whole life. Term is even reasonable for burial expenses. The link below will help explain.































www.advisortoday.com