Choosing term life insurance vs whole life insurance seems a lot harder than it really is at first, but if you are able to asses what you have and what you need you should be able to get a policy that works in your favor.
Just be sure that you don't get ahead of yourself and be careful you don't make any impulsive decisions when it comes to buying a policy.
The main difference between term policies and whole policies is the duration they last.
A term life insurance policy only lasts for a few years -- however many you agree upon when getting your coverage.
Some insurers do allow you to extend your coverage for a set amount of years, though they never go past 75 years of age.
A whole policy lasts indefinitely -- rather, until it is finally time for your loved ones to take out the benefits.
But what it comes down to the most for many teetering on term insurance vs whole insurance is the price.
Term policies are generally much cheaper than whole policies, making them more popular for those who are not financially stable.
It's worth noting that even though they are cheaper, they are not any less reliable.
A term policy works just as it is written up, no more or no less.
Term insurance is not a downgrade from whole, it is only a different type of life insurance.
Decide which type of insurance you want before shopping for it.
If you have a "term life insurance vs whole whole insurance" mindset when finally looking for a policy, you are going to get confused and maybe make a decision you'll regret later on.
Know what you want before you shop, and you will be ready to find the perfect insurance rate.