A large percentage of insurance buyers are not even aware of the term life policies. Because of their low cost, these policies have very low profit margin; consequently, they are hardly advertised or canvassed. People like to get a promised sum assured whether they live or die and this is being encouraged by the cash value policies. They offer you the benefit of lie insurance as well as an assured sum but they are usually overpriced.
For those who are looking for various types of whole life or 
There has been a growing demand for lifelong coverage for a long time. The whole life insurance policies evolved out of this very strong market demand. The available policies until then were of temporary nature only and not growing any cash value. People got fed up of paying premiums for 25/30 years and then getting literally nothing out of it. The whole life policies were evolved as the solution to this problem. Moreover, to inject more interest among the policy buyers, such policies were programmed to offer a "cash value".
If you want to have only coverage, life term insurance is the best choice. However, there are various types of policies available. Whatever your choice may be, you should think of the pros and cons of each carefully. Beware of different options first and then pick up a policy, which suits you most. Let us go into the broad categories first.
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