What are disadvantages of Whole Life insurance?

John Kennedy on Opinions. Some people say the disadvantages of whole life insurance outweigh the advantages, while others say it's the other way around. Everyone, it seems, has an opinion. Read on for some facts to base our opinions on. You can also see a handy chart of the pros and cons of whole life insurance. read more

Whereas term life insurance runs only for a set period of time -- the "term" -- whole life insurance coverage continues until you die. Whole life policies have many advantages that term life cannot offer and some disadvantages that term life policies help you to avoid. read more

No other type of life insurance policy has as many guarantees as whole life insurance. Unlike term policies, whole life policies offer a range of living benefits that don’t necessarily eat into the policy’s death benefit. read more

Whole life insurance covers you not only for death benefits, but also comes with an additional feature which is a cash value accumulation component. A part of the premium you pay goes toward the cash value accumulation portion. read more