Why should I buy term life insurance instead of whole life insurance?

Whole life insurance tends to be much more expensive than term life insurance. This is true not only because you pay more to insure yourself for life, but also because whole life insurance is a form of investment where you invest excess and earn a return. Most financial experts agree that there are better rates of return elsewhere and that term life insurance is a wiser choice. Not only that, but when you are older and the term of your insurance expires, hopefully, you’ll have enough money saved and have your mortgage and debts paid down so there will be no one dependent on you living and earning income.