If you are wondering which is better, term or whole life insurance policy, it purely depends on your financial security needs and goals. If you require life insurance for a considerably short term (while your objective is to nurture your minor children and provide them financial security), choosing term insurance will be a better choice as its premium is quite affordable.
On the other hand, if your objective is getting permanent coverage which will continue throughout your life, considering a whole life insurance plan is ideal. Whole life policies also help you enjoy several survival benefits like tax-free cash value accumulation.
Now, after the above discussion, you can understand how term insurance differs from whole life insurance policies apart from their types. Also, you must have understood whole life insurance vs term insurance plans and which one should suit you. Make sure to go through the available policies with diligence and opt for a plan to meet your financial goal while ensuring the security of your family.