Term life is temporary life insurance for a term of up to 30 years. So, if you only have a need for life insurance of 30 years or less, then term may be right for you.
Also, term costs a lot less than whole life insurance coverage, so, if you’re on a budget and need the most life insurance at the lowest price, a term life policy may accomplish your goal.
But, if you need lifetime coverage, then whole life insurance can meet this need.
Learn more about the benefits of term life insurance and whole life insurance.