Term insurance has level premiums for a set period of time and is usually more affordable. It provides the greatest amount of coverage for the lowest initial cost. You may find that a Term policy is a good choice if you have temporary needs or if your funds are limited.
Permanent insurance, which includes Whole Life and Universal Life, may be the right fit for you if you want to help cover a long-term need such as replacing income for a surviving spouse, legacy planning for children or end of life expenses. Permanent insurance may initially cost more, but may accumulate cash value.
It's difficult to say exactly which kind of Life insurance is better, because the type of coverage that's right for you all depends on your individual circumstances and financial goals. A combination of Term and Permanent insurance may be the right solution.
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