Whether or not whole life insurance is recommended for you really depends on what you need the insurance to do - what your goal is for your life insurance?

If you are looking for life insurance protection only to cover you for a short period of time, then perhaps a term life insurance policy would make more sense, since it offers low cost life insurance coverage for a period of up to 30 years.

If you are looking to create a tax-free legacy for your children or spouse, cover for your eventual burial funeral expenses, or have a life insurance policy that you could borrow money from if needed, then yes, a whole life insurance policy might be the way to go. However, whole life insurance has higher premiums than term life insurance, but your premiums are guaranteed to remain level, and you would have lifetime coverage.

Here's how you can compare whole versus term life insurance coverage.