A Term Insurance would give you the highest coverage for the lowest premium. So, you can invest the money left over in other investments like mutual funds and shares.
You can save your hard earned money by investing in a whole life insurance policy too. Hunt down something called "cash value policies" which come with low administrative fees.
You can opt for a loan or partial withdrawal against your cash value. But, be cautious! If by any chance the total value of premiums you have paid into the policy is lower than the cash value, you would be taxed.
