Term is usually the best way to go. Whole Life and other permanent life policies, is usually (I believe) best stayed away from. You can get term and an annuity (or other investment product) separately, and generally you will do better and have less complications.
Within term, Annual Renewable Term (what squeak referred to as renewable term), I have found you pay less over the life of the policy. (This may vary.) The problem can be finding a provider that still offers ART. AXA Equitable is one. I also think its better than 10/15/20/25/30 year term, since it doesn’t expire after 10/15/20/25/30 years – requiring a new medical and a new policy.
Re: Return of Premium Term Life Insurance, you are almost always better off getting plain term and investing the difference (what more you would’ve paid for Return of Premium Term Life Insurance).
Same with Permanent Life Insurance. Get Term Life and invest the difference in an annuity or other investment product. You can choose from a wide variety of investments, have more control of it, and not have the HEAVY financial penalties if you cancel a Permanent Life Insurance policy early.