What are the advantages and disadvantages of a whole life insurance policy?

Since whole life insurance is coverage that provides guaranteed protection your entire lifetime, it will cost more than a term life insurance policy which provides coverage for up to 30 years.

The advantages of whole life insurance include:

1. Guaranteed lifetime protection.

2. Builds can value inside the policy.

3. You may take a loan form the cash value.


The disadvantages of whole life insurance include:

1. It may cost 2 t...
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