Disadvantages Of Whole Life Insurance
- You cannot choose between interest bearing accounts
- Few live to 100, so the maturity age is impractical
- You can’t vary the monthly premium payment
- Your premium paying period may last a long time
- You can’t increase the amount of coverage
- Loans are deducted from cash value or death benefit
- The cash value may be less than your face value
- Premiums are much higher than term life
- You policy may be surrendered from over withdrawals
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