Which is better and why: term or whole life insurance?

A term life insurance policy is a kind of life insurance policy: it covers you for a certain period of time. It's an insurance policy that covers you for a set amount of time, most of the insurers can provide cover until you are 70 years of age but there are some insurers who can also cover you until the age of 75. If you get a term policy to cover your family,  it is recommended to review your life insurance needs to make sure that your family is protected.

What is whole life insurance?

A whole life policy is the most basic type of permanent life insurance, and it's termed that way because it covers you for the rest of your life as long as you pay your payments.

Is whole life better than term life insurance?

When opposed to a term life insurance, whole life has several advantages: it is permanent, it includes a cash value investment component, and it offers additional options for protecting your family's finances in the long run. For many individuals, these characteristics make it a superior choice, but if you're just seeking for the highest death benefit per pound spent on premiums, term life insurance may be a better option.