Whole Life Insurance is a high fee, low rate of return. It is very hard to make the numbers work.

Buy Term and Invest the Rest.

#2
Taxes can be much less when Buying Term and investing the difference if investing is done through a Roth IRA or 401K. Your money multiplies much faster because you can contribute pre-taxed dollars so you can contribute much more. And taxes? NEVER withdraw your money from your 401K or Roth IRA. Simply just borrow the money which from your savings which will usually be double that of the IUL, WL, or UL policies because pre-taxed dollars contribution will be much higher. In addition, there is no surrender fees, penalties, commissions, etc. Meanwhile, while you are borrowing the money, the account continues to earn 9% on average if you invest in the no-load SP500 fund. Never withdraw from your retirement savings Roth IRA for 401K account. Put it in a trust for your kids, grandkids, etc. They can borrow from it if needed. Even if the amount they can borrow is only 50%, years later many times, it will be much more than a 100% withdraw from a IUL, WL, or UL policy because the extra pre-taxed dollars continues to compound tax free. Also much much much lower commissions, fees, and penalties with buying term and investing the difference. It all adds up quickly.

#1
Insurance agents hate Term Insurance because there is much less profit on selling Term insurance.

SIgh, Another person that does not understand Why you should put your money into a whole life insurance policy. Buy term and invest the difference DOES NOT work. But ok.. lock your money away for 30 years…. Do you know what your tax rate will be 30 years from now? What about inflation? Do you know the amount of fees your employer is paying for that 401k? (Trust me if you did you would tell him ditch it and just give you more money) What about the fees of the funds you put your money in? Yea sounds great Buy term and invest the rest.. and simple.. Until your retired and the market tanks and you lose 1/3 of your investments or you turn 70 and the government FORCES you to take a certain amount out (and they do require it)

Oh i hear you, Diversify, and Manage your portfolio, ok Well while your getting a 5% market return (and im being generous here because its less than that) but your paying 12-40 percent in interest on all the debt your carrying over the years while your saving in that account, YOUR NEGATIVELY AMORTIZING your life. You could of funded your retirement and your life in 10 years with a properly structured whole life policy. So if your 40 you could be retired by 50.

whole life is absolute garbage. term is awesome. watch Dave Ramsey videos and read his books, he explains it well

Yeah, I got totally screwed by one of these policies.  Stay away from them, they're trash.

Only a fool doesn't know that the expenses are fixed when you purchase the Whole Life policy,you get interest and dividends that are credited tax free at an overall rate of about 4 to 6% tax free that is 7 to 9% taxable which is substantially higher that the S&P has done over the last 14 years…oh and there is no risk unlike in the market.  I wish fools who don't know how certain products really work would quite trying to act like they are experts….they are just fools!

Very interesting.

The Fool is NO FOOL regarding life insurance.