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Many people do not understand the difference between the term insurance and wholelife insurance. I always thought that term is not worth the money, but that is not the case. In fact, most do not need whole life product. Though in certain situation, it is necessary.

Whole life insurance is particularly useful when you have a disabled child in the family. When that parents passed away, the wholelife insurance will ensure that the child receive proper coverage till the day he dies.

Sometime, all one needs is term insurance. The money can help pay for funeral bills and others. Term insurance may come in handy, depends on what you need.

Term insurance lasts for a few years. Though some can be renew once it expires, however, it may not ne necessary once all your kids are grown and you can retire comfortably.

It is your call of course, but note that this will be the only income if some dies. And many choose to to give it to charities. Death can be anytime. You need something solid for your family.

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