Question:

What are the advantages & disadvantages of Whole Life?

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What are the advantages & disadvantages of Whole Life?

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  1. Whole life Insurance Advantages

    - No expiry

    - Level Premiums (usually)

    - Guaranteed premiums (usually - watch the fine print)

    - Good for estate planning

    - Builds cash values (sometimes guaranteed)

    Disadvantages

    -Higher premiums

    -No choice over how the cash reserve is invested

    -Cash reserve can only be accessed through a policy loan (reducing the death benefit) or cancellation of the policy

    Hope that helps - make sure to check your policy to be sure it is what you expect!

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