Term vs whole life insurance: which should I get?
Term life for 99% of people. It's pure death benefit insurance — cheap, simple, and matches the years you have dependents (typically 20-30 years). Whole life mixes insurance with investing at high fees; better to buy term and invest the difference. Whole life only makes sense for specific estate planning needs.
More context
Term life for 99% of people. It's pure death benefit insurance — cheap, simple, and matches the years you have dependents (typically 20-30 years). Whole life mixes insurance with investing at high fees; better to buy term and invest the difference. Whole life only makes sense for specific estate planning needs. The exact answer depends on your specific situation — the numbers above are a strong starting point, but the right next step is to plug in your actual figures.
For a deeper analysis, use one of the related tools below — they take your specific income, debt, location, and goals as inputs and produce a tailored answer.