Should I get term over whole life?

This is a very important decision because life insurance is based on age and every day you approach death it gets more expensive. I recommed a guaranteed death benefit Universal Life. It is kind of in the middle of term and whole life. It isn't much more expensive than term and provides a stable premium. It builds interest as well, which is later used to pay on the policy so your premium isn't rasied. I recommed this because although the "invest the diffence " method is a great "idea", noone knows what the future might bring. To give you an example of why that is not guaranteed to work.

Example one: Purchase cheap term at age 24. Invests so many dollars every month (if you are discipline.. which most of us are not ). You have a baby and get married at age 30. You and your husband want to buy a house and you need to pay off bills to put yourself in a better position, you cash in your investments to use towards this. Your intentions are to continue to invest but somehow the new responsiblities of a family prohibit you from being consistant. Now you are 38 years old and have diabeties. Your term premium guarantee will run out in 6 more years, so you decide to upgrade your policy. The cost will now be based on a 38 year old with diabeties versus a healthy 24 year old. In other words noone knows what life will bring so it is better to be proactive than reactive. My clients pay about $25.00 a month for a guar. Universal life policy which the premiums will stay the same. Talk to insurance agents who tell you that term is better cuz it's cheap, ask them what percentage of people die with term. The answer will be less than 10%. Which is why many die without life insurance. They had it at some point and the term expired and couldn't afford the insurance at that age. Besides companies stop writing term at the age of 80 years old, so when you die after that then what? If you have a nice nest egg great!! But in this economy that is getting harder to do so don't depend on that. Not to mention where,. who and how you invest the money is another can of worms..to make sure it grows. Those decisions must be wise! It is better try to make the right one the first time.Good luck you can go to this site and it will give you some more insite on the type of insurance pros, and cons.