When Is Whole Life Insurance A Good Idea?

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Participating whole life insurance is a mortality product designed to offer a guaranteed death benefit coverage for a guaranteed premium until the policy maturity date. Most advisers feel they can achieve the same guarantees with guaranteed universal life insurance for less premium. But on a positive note, participating whole life insurance can be used as a long term conservative savings plan with a maximum term and paid up additions rider.

   Answered on August 9, 2013

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