: High-net-worth individuals for estate planning or those with lifelong dependents (e.g., children with special needs).
: If you die within the term (e.g., 20 or 30 years), your beneficiaries receive the death benefit. If you outlive the term, the policy ends with no value. Permanent (Whole/Universal) Life Insurance : buying life insurance policies
: Significantly cheaper than permanent options. For example, some experts argue that the hundreds saved monthly on term premiums could be better invested in retirement accounts. : High-net-worth individuals for estate planning or those