It is important to consider your individual needs and life situation as you decide what form of life insurance is best for you. There are a range of insurance options and possibilities, including:

Term Life Insurance: A temporary form of life insurance with guaranteed premiums, term life insurance pays a benefit amount you choose. It offers the lowest initial premium expense, but over time this can increase significantly, which is why it's recommended only for a short period of time. You can often covert term life into permanent life insurance.

Permanent Life Insurance: Offers fixed premiums and guaranteed cash values, which are accumulated as a result of your premiums. Some may even pay policy dividends. While the premiums are higher than the initial amount of term insurance, over time the whole life insurance cost may be lower.

Whole Life Insurance: A form of permanent life insurance, whole life insurance provides lifetime protection for as long as the premiums are paid. The cash account premium of whole life insurance can be used as a form of savings, which policyholders can borrow against or withdraw.

Universal Life Insurance: A type of permanent life insurance, allows you the flexibility to adjust your premium payment and increase or decrease your death benefit as your needs change.

Variable Life Insurance: Another type of permanent life insurance that is a pure investment policy. As such is much more expensive than the other types, but it gives the policyholder complete control over his or her investment portfolio.