Last Updated on May 3, 2021
The premium on life insurance is 5 to 10 times higher than a term policy with the same benefits. So if you are a young person who is just starting his/her life, or you have a small family with young kids, then it is best to get a term policy instead since it is going to be more affordable.
However, the insurance agents would probably try to sell you the whole life’s investment function, remember that you don’t have to buy it. It is best to buy the cheap term policy then invest the difference.
