Whole Life Insurance v. Term Life Insurance — Which One is Right for You?

On radio, television, and print media there is no shortage of advertisements for life insurance products. Designed to replace the missing income a family experiences when the breadwinner dies, life insurance is sometimes marketed as “mortgage protection insurance.” It’s not really mortgage protection insurance; it’s a way for the surviving family to stay in the house, rental, or whatever living quarters they’re in without having to sell it or dip into their savings.