There are various factors according to which one can suggest you the best insurance policy to you. Well in general :
• Term Insurance/ULIP policies are suitable for youngsters who just started earning.
• Endowment/marriage endowment/child education/ULIPs are suitable for middle age people.
• Pension policies are suitable for old people or individuals who plan for retirement income.
• People can invest in whole life policy to cover death benefits whenever death occurs.