The type of life insurance plan that meets your needs is the one that is better between term or whole life insurance.

Also, some people have a need for both types of life insurance because they need term life for their short term needs, such as, protecting their growing family until they are adults, and whole life insurance for their lifetime needs, such as, providing for their final expenses and estate taxes.

But, if you have a need for 30 years or less, then a term life insurance policy can be a good option.

If you have a need for lifetime life insurance coverage, a whole life insurance plan may be a good idea.

Here's how you can compare the pros and cons of whole versus term life insurance.