There are two main options when choosing life insurance plan. The cheaper one is a term life insurance plan. It can cover you for up to thirty years. It works well for younger adults and will cover them until the kids grow up and move out. Older adults are still eligible and qualify for low rates, unless there major health issues. Another option is whole life insurance, also called permanent life insurance. It covers you until you die. It may include a savings option and you can borrow against this money. Premiums will be higher because of commissions and fees that are not included in term policy. In order to decide which plan works better, one may want to get life insurance quotes from an agent to compare the plans in more detail.