For these folks diagnosed with a condition, like Type 1 diabetes or type 2 diabetes diagnosed at a young age, or some type of congenital heart defect, or one of a hundred other such pre-existing conditions, it may make more sense to lock into a whole life insurance policy when given the chance, rather than take the risk of never being able to qualify for
ordinary life insurance again later on in life.
The family package policy consists generally of some level of
ordinary whole
life insurance on the principal breadwinner, half that amount in term
insurance on the spouse, and about half that amount
again of term
insurance on each of the children.