It surprises me a little, since the first type of life insurance coverage was whole life, that people are not familiar with basic and simple permanent coverage. I guess that term gets more press these days, mostly because the premiums are usually much cheaper for the same amount of coverage. And term is the best for lots of people, but not for everybody.

I guess I am not the only one who gets this question because I have found several articles being published lately, including this one: What is Whole Life Insurance?

The article goes over the basic differences between whole life and other types of coverage. For an even more basic explanation, you can find this article: Whole Life Insurance Explained.

Who Should Buy Whole Life?

You cannot automatically assume that term life insurance is best for everybody, even though that is the popular answer. If you want coverage that does not expire (as long as the policy is kept in force), and that builds up a cash value to act as insurance and savings, you may choose whole life.

Related: Define Term LIfe Insurance

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