Life insurance vs Term insurance

Over the past few weeks ive been thinking about protection and saving for my retirement. We reach an age whereby we feel that we have the responsibility towards others, either to protect them or to help them to achieve their goals. The number one and most important person that everyone chooses to protect would be their parents, that is before you get married of cause. Im just embarking on my career and although ive started investing ive not really thought of any emergency scenario. What if im not around to take care of my parents? What if i am still around and lose my ability to work? Some of these thoughts has been going through my mind and therefore i actually had to contemplate between getting insured under a whole life plan or a term life plan. Basically ive been getting advice from the web, from youtube in particularly. Ive read and studied the pros and cons of life and term insurance and my findings is this.'

A Whole life insurance covering S$250,000 TPD/Death would be $180 a month + Hospitalization subsidy would be around $194/mth this includes cash value and can cover up to a minimum age of 65

Term life covering TPD/death does not have cash value and it will take $30/mth to prolly cover the same amount as whole life.

Conclusion a $30/mth is = $360/yr without cash value. But i get that extra $1800 to invest somewhere and prolly get better returns? Well at least i get to manage my own $$ and dont have to go through any premium holiday to meet my obligation. So Term insurance is prolly the way to go?