When buying life insurance, Margo sought the advice of a sales agent from a
reputable life insurance company. Margo was interested in buying $100,000 of life
insurance. She is 28 years old and a single mother. She wants to spend as little as
possible on this life insurance policy and is not interested in having any type of
savings, or cash accumulation, feature with her policy. She just wants $100,000 paid
out to her named beneficiary in the event of her death. Therefore, she should take
the suggestion of the life insurance agent and purchase a whole life policy rather
than a term policy.