<prompt> Human: Hi, my husband and I are expecting a first child and hope for a second. We rely mostly on my husbands income. We dont have any major health concerns, but I guess the goal would be more to provide for the family for the equivalent of maybe 5-10 years worth of income in the event of my husbands passing. Currently he earns 85k a year and I earn 25k a year that should hopefully increase when I graduate from my degree program, but not by much, maybe to 40-50k. We havent much in our retirement funds, just 40k, about 60k in savings. We rent and dont have debts or mortgages. Im thinking it would be wise to do permanentwhole life insurance for him and not for me...or would it be better to do a 20 year term life insurance and put presumably more money in savings, if term is cheaper than life? Any ideas or recommendations on companies would be helpful.  <response>: You should consider getting 20 years of term life insurance on both of you, in an amount that would allow the survivor to afford to be a single parent until the children are grown, at a level of lifestyle and comfort that you both agree would be reasonable under the circumstances.I dont see why you would only get life insurance on one parent and not the other, since either of you would be severely affected by the death of the other. Even if you dont have very much earning power, I assume you plan to help your husband with taking care of the children!Term life insurance is cheaper than the more complex forms of life insurance, because it is just plain old insurance. You probably dont expect your car insurance or your home insurance to have an investment component either, nor to have a cash value if nothing bad happens to your car or home. 