Generally speaking, there are three different types of life insurance policies. The one you consider to be best may not work out nearly as well for another consumer. It is hard for anybody to tell you what is best for your situation. Your goal should be to learn about the pros and cons of each type of insurance so you can compare them and find the best option.

The best life insurance is probably going to fit into one of three categories: term life insurance, whole life insurance, or return of premium. No matter which one you eventually choose there are both pros and cons that you will have to deal with.

Most experts usually recommend term life insurance for a number of reasons. Basically, it is the cheapest option but does not ask the consumer to give up anything in terms of coverage. So, if you want to spend as little money as possible but still get a good policy, term coverage is where you want to start your search.

The main benefit of whole life insurance is its permanency. When you buy whole coverage you have it for life as long as you pay your premiums when they come due. Since your death will happen at some point, with a whole life policy you can rest easy knowing that you are going to be able to leave something to your heirs. The downside is that you will have to pay more for whole life insurance.

With a return of premium policy your death benefit is paid if you die – just like term and whole. But if you live past the term, all of your money is returned to you. It may not be as cheap as term life insurance, but it is more affordable than whole life coverage. Along with this, a return of premium policy is pretty easy to shop for.

What is the best life insurance for you? To successfully answer this question you need to know the pros, cons, and all details, of term, whole, and return of premium life insurance. This information will lead you to the best policy.