 TITLE: Term vs. Whole Life: Which Should I Get? CONTENT: Which Type of Life of Insurance Should I Choose?\n------------------------------------------------\nWhile there's no one-size-fits-all answer to this question, term life insurance is better suited for most consumers. This is primarily because term insurance is more budget-friendly, and it provides the coverage you need without the complication of a cash value account.\nAlso, because cash value growth rates are low, you'll likely get more long-term value by purchasing term insurance and then investing the difference between the cost of term and whole life (assuming you can afford both types of policies).\nHowever, if you have a high net worth and you've exhausted all of your tax-advantaged retirement and health savings options and can afford a whole life policy, the tax-deferred growth and safe, guaranteed return can be appealing compared with riskier options. END