you state single parent with young children ,not child.
this is important and the main focus of cover should be life assurance and not the investment element, to provide funds to look after children in the unfortunate death of parent.
I think you need to discuss with a broker to decide which is the best policy for you. I know very little about life assurance industry, but in the circumstances, I do not think that the savings element is in any way important and you need to pick the best policy to suit the particular circumstances.