What Is Wrong With Whole Life Insurance?

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    David RacichPRO
    Fountain Hills, Arizona
    Assuming this question originates from a negative assertion that (participating) whole life insurance is inherently wrong, there is no “wrong” on a financial basis as a product. It may very well be unsuitable or not economical depending upon the personal profile of the potential purchaser and their financial goals. The annual premium for guaranteed universal life insurance is generally cheaper than whole life insurance, so the difference in premium could be argued as economical. But participating whole life insurance that’s designed for tax advantaged supplemental retirement income can be very valuable to a long term conservative saver who seeks returns that can compete with treasuries as an example.
     
    Answered on June 21, 2013
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