How do I decide between Term Life Insurance and Permanent Life insurance?

Really very interesting article and it says->
When shopping for life insurance, you face the same decision you must make when you're in the market for a new car: lease or buy? Those aren't the words used for insurance, of course, but the concepts of term and permanent life insurance are similar to leasing and buying.

Term insurance is like leasing a car. You purchase death benefits for a specified period -- usually 5, 10 or 20 years. When the period is over, it's like turning in the leased car. The deal is done and you walk away. Permanent insurance, on the other hand, is like buying the car you plan to drive forever. Permanent insurance stays in force as long as you live. It will pay a death benefit, and it accumulates a cash value, too.

The two kinds of life insurance are appropriate for different situations. Term insurance is designed for those who are interested solely in a death benefit; for example, a young father who wants insurance so that his child will be able to afford college if Dad is not around to pay the bills. There is no cash value to this kind of insurance, so often the premiums are lower than they are for permanent insurance. But as the insured gets older, the premiums increase.

More.....