Originally Posted by The_Jazz

Lubeboy, it's impossible to answer your question without knowing what kind of life insurance your parents have bought you (if that is the case) or what you intend. As has been mentioned, you can buy whole life (never expires) or term (which has a start and end date).

Whole life can be used as a savings vehicles. Baraka Guru, it's intended to work in conjunction with investments, not replace them. There are also a few insurance companies that will guarantee certain returns. That in and of itself makes it a safe money shelter.