HLS
There are other consideration that would need to be considered with any strategy. Family history, life expectancy etc. I think you make a good point about the comparison and cost of coverage which I would have went into but there is only so much I wanted to type.

I may argue that term life insurance costs have actually gone down and as life expectancy going up actuarial tables should adjust to lower costs. This can be debated. Many with term policies who ahve had the policies for over 1 years shoud be checking out costs and rates as they ahve gone down substantially.

I break down the purchasing of life insurance into increments as far too often people address it once and then try and forget about it whereas I0 believe it should be reviewed every 4 or 5 years minimum. You can be both overinsured and underinsured and my method can give you some flexibility to be on target.

I have nothing against other argument for permenant whole life policies. There are some decent strategies that can be used there aswell but if you are looking to send as little as possible on premium I have given someone something to consider.