Should you buy term life or whole life insurance?
Both forms of life insurance are meant to protect you if you die or become totally or permanently disabled. They typically pay out a lump sum to your family (if you die) or you (if you become disabled).
Term life insurance typically allows you to get covered until an age of your choice so you don’t need to pay for protection when your dependents are financially independent.
On the other hand, whole life insurance offers life insurance coverage for your entire life (or at least until you reach a very ripe old age). This usually means coverage for death and total and permanent disability.