Choose a low cost term insurance plan

Dear Mr. Tan,

I wanted to buy a term insurance for my husband who is 42 years old. He is currently covered with $80,000. My agent recommend me the below 2 plans.

1. Term Plan (Up to Age 85)
This term plan covers sum assured $50,000 for an annual premium of $786. There is no cash value for term plan.

2. Whole Life Plan (Ltd-Pay 20 Yrs)
Based on sum assured of $50,000 payable for 20 Yrs, the annual premium is $1,938.

Which is better?

REPLY
I do not like the two policies recommended for your husband as the premium is rather high. I suggest that you ask for a term insurance plan that expire at ag 60 or 65.
Read this FAQ:
http://www.tankinlian.com/faq/term.html