America Asks The Dolans: Term or whole life insurance?

Ken and Daria Dolan are widely known as America's First Family of Personal Finance.

Question: We're just starting a family and reviewing our life insurance. There are SO many choices! We think the toughest choice is whether we should buy whole life or term insurance. What's your take? - Jessica, MD

You know, Jessica, so many of the questions we answer have lots of "buts" or "ifs" associated with them.

But this one is about as straightforward as they come.

For young families, Ken and I recommend term life insurance. Period.