Whether or not it is smart to buy whole life insurance depends on your own specific situation, and what your life insurance goals and needs are for you and your loved ones.
If you need lifetime protection then whole life insurance may be a good idea.
If you need life insurance that may build up some cash value inside the policy from which you may take a loan out in the future, whole life may be a good idea.
However, if you are on a budget, have life insurance needs of 30 or less, or just need the most life insurance for you money,
term life may be a good option to consider, because it costs a lot less than whole life insurance.
Also, term life insurance may allow you to convert your term policy into a whole life insurance policy by some future date, if you find a need for lifetime coverage later on.
In addition, many people choose to buy term life insurance for their short term needs, and a whole life insurance policy to provide for their long term needs, such as, final expenses.
