If a divorced couple is purchasing life insurance to provide financial security for the future of their children and money is tight, they may consider
purchasing term life insurance instead of permanent insurance.
Most people who
purchase term life insurance do so with the expectation that by the time their policy expires, their house will be paid off and their children will be grown and independent.
The savings is so pronounced that the amount of money saved
by purchasing term life insurance instead of whole life insurance is almost equal to the policy's death benefit.