A. Yes, if you get the essence of the different types of products:
Term insurance - the least expensive kind of individual life insurance, is designed for income replacement, where a benefit will be provided for those who are relying on your income, like your children or spouse. It’s a cost-effective way for families to insure against the passing of a wage earner.
Whole life and universal life - they are two types of permanent insurance policies which build up cash values over time and are more expensive. Permanent insurance is typically used for the transfer of wealth, which might be more relevant later on in life when you’re trying to protect your estate.