Generally no. Assuming that you need life insurance, it is usually better to buy an inexpensive term insurance policy. “Permanent life insurance” or “cash value life insurance” combines the insurance with a savings fund. This means that you pay more than what the cost would be just for the insurance. Some of your money then goes into a savings plan.
While this type of policy might be appropriate in some situations, for the majority of buyers, it would be better to get the best possible price on the right amount of insurance for your needs.
Unless you prefer and can afford the extra expense of buying “permanent life insurance”, buying term insurance will usually save you money. The benefits of this are:
1) You get the same amount of coverage at a lower premium.
2) You buy a larger amount of insurance for the same premium that you would pay had you purchased “permanent life insurance”
3) You save money that can be spent on some other investment or expense.