Life Insurance: Term vs Whole life (Cash Value)

[2EZ2BRICH]

having second thoughts on if it is worth keeping my whole life or just buying term every year. i can get a 1yr term poilcy for a little more than what i pay per month with my whole life.


any thoughts out there ?

 

[Sundance]

having second thoughts on if it is worth keeping my whole life or just buying term every year. i can get a 1yr term poilcy for a little more than what i pay per month with my whole life.


any thoughts out there ?

Term=no cash value, expires after 1,2 ,5 or ten years,cheaper
Whole life=builds up cash value, more expensive, no expiration date

If you would know that the person who won the life insurance would die in a few years...then TERM would be better...

"Whole life" overall is a better deal...

TERM is just a waste of money...


I used to sell those..WHOLE LIFE was a better commission for me..

 

[2EZ2BRICH]

thanks for the reply !


that's my point....higher commissions to the rep for the whole life, which leads me to believe that the info i received was bias. thinking 10yrs down the line i would have paid over $20k for this policy, wereas the yearly term policy (with a higher payout in the event i meet an untimely demise) will only cost $3k - $4k.

don't understand why you are saying whole life is better ?