Suze Orman Says Most Families Really Only Need One Type of Life Insurance -- This One

Life insurance tends to come in two main forms -- whole life insurance and term life insurance. If you buy whole life insurance at age 25 and pass away at age 95, you'll have enjoyed 70 years of coverage under that policy. Now you have options in that regard, but you'll often see term life insurance policies that are meant to last 10 years, 20 years, or 30 years.