Should I buy term life through age 65 or a whole life policy for permanent coverage?

For most people, a long-level term policy that runs through your mid-60s beats whole life, because by then your need for coverage usually disappears. The idea is to insure the years when others depend on your income — while you're raising kids, paying a mortgage, and building savings — and to be self-insured by retirement, when the house is paid off and your nest egg can support survivors. A 30-year term bought in your mid-30s does exactly that at a fraction of whole life's cost, freeing up money to invest. Permanent coverage only earns its keep in narrow situations: providing for a lifelong dependent, funding estate-tax liquidity on a very large estate, or leaving a guaranteed legacy. If your goal is simply protecting your family during your working years, term through retirement age is the efficient choice. Estimate your need at wealthserene.com/tools/insurance-calculator.