Whole Life Insurance

Covers you for life
Provides death benefits as well as a cash value accumulation that builds during the life of the policy
You typically must qualify with a health examination
Can be purchased without a medical exam, but at a higher cost
Takes 12 to 15 years to build up a decent cash value
Can be a good choice for estate planning
Cash value is based on how much the return on investment is worth
A portion of the cash value can be withdrawn or borrowed during the life of the policy
Initially has more expensive premiums than term life insurance, but can potentially save you money over the life of the policy if in force for a considerable number of years