Whole Life or Term Insurance?????

I get this question about three times a week, but so I decided to make it simple for those of you who are wondering.

I've taken a 40 year old man, he is married and has two children ages 6 and 9, he has a mortgage.

Which is better for him 20 Year Whole Life permanent policy with the added cash values OR purchase a 20 year Term policy and investing the difference into a Guaranteed Investment Fund.

Let's jump ahead 25 years, he is now 65 years old, the mortgages probably paid off now or very close.

The children should now be age 31 and 34, and they should be out of the house by now. .....Let's hope. Ha Ha

Let's see if he is ahead.

Lets look at the numbers at age 65.

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