Term life is a simple product that pays your beneficiaries a death benefit when you die. Whole life and its many variations is a more complex product that costs more, but provides an investment component in addition to the death benefit.
Buy term life insurance. One company’s term life insurance policy is pretty much the same as another’s, so shop based on price. Make sure the company is stable and will be around when you need the death benefit.
Don’t buy whole life or any of its variations. The insurance agent will show you illustrations of how the policy will build tremendous value over the years and decades, but the fact is that most people just don’t cash in on this. You’re better off making your investments elsewhere.