There are a number of different types of life insurance policies because there are different types of coverage needed to best suit different types of needs.
Permanent life insurance with a cash value is best if you want to borrow from your own money to pay for needs like college or weddings.
Term life insurance if best for temporary needs like paying off a mortgage.
Universal or Whole Life is best for paying permanent needs life funeral costs.
You really can't call one type of life insurance best. They are all best if purchased for the right need.
Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
The best life insurance policy is the policy that is in force on the date of your death. It is the only policy that will pay a death claim. Regardless of the price this policy will always cost less than the death benefit. Another way to determine what policy is best is to consider your needs and buy a policy that protects you during the time that you need protection.
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Permanent life insurance with a cash value is best if you want to borrow from your own money to pay for needs like college or weddings.
Term life insurance if best for temporary needs like paying off a mortgage.
Universal or Whole Life is best for paying permanent needs life funeral costs.
You really can't call one type of life insurance best. They are all best if purchased for the right need.