Looking into life insurance is something which is extremely important and you will need to consider it very carefully before making any final decisions. The big question is whether you want to buy whole life insurance or term life insurance. Term life insurance simply means that when the person who is insured dies, the amount they were insured for goes to the beneficiary. It is rather simple and straightforward; however whole life insurance is a little bit different. When you choose whole life insurance, you will need to consider a few different things. Those who choose whole life insurance will have an added investment component to their policy.