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The Truth About Whole Life Insurance

The plain truth about whole life insurance is that it's not suitable for everyone. Many people have scant knowledge about the types of life insurance available and that means they're not making an informed decision. 

Potentially exacerbating this problem is the fact that when a life insurance agent sells a whole life insurance policy, he or she may receive a greater financial benefit than if they sold the person a term policy. If you want to explore regarding whole life insurance visit,

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That has the potential to motivate some agents to push whole life policies rather than properly assess an individual's circumstances and advise them accordingly. Whole life insurance is perfect for some individuals but often, it isn't. Term life insurance may be much more appropriate and cost-effective for many.

Some term insurance fans might suggest that there's some synchronicity between the name 'whole life insurance' and where your money might end up – in a hole! The latter could certainly be considered true in some instances. 

That's because many individuals don't understand when they purchase this type of policy that the 'cash value' isn't as attractive as it might look. If you 'cash in' your whole life policy before you die, then you don't have any more insurance. 

Not only will you have no coverage but if you were to add up the premiums paid and compare it against other investment and savings vehicles, you might be sorely disappointed. Insurance is designed as a protective investment, not money investing.