Why?

Whole life insurance is the unwanted and unnoticed middle child of the life insurance industry. Often times the middle child of a family develops a unique talent or quirky personality to differentiate them from the rest of the pack.  This is not the case with whole life insurance.

It does not seek to separate itself from the rest of the life insurance policy family. Instead whole life insurance blends the qualities of other policies into one slightly repulsive and useless package that looks frighteningly similar to the frightening Sasquatch with Patrick Duffy for a leg.

Offering nothing new to the table, whole life insurance simply exists, a horribly unneeded existence to be certain yet an existence none the less. If the life insurance industry was a band, whole life insurance would be the triangle player. Sure, we could do with just three guys in the band and have the drummer play the triangle but why not waste space?

Wholesale insurance offers none of the same peace of mind found in permanent life insurance, but the same investment policy. Where with permanent life insurance you have guaranteed coverage, whole life insurance gives none of the same financial security.

In my mind you have two options. Get term life insurance and invest the difference not getting whole life insurance saved you. Or get permanent life insurance pay a little extra to rest easy knowing your loved ones’ futures are secure.

But DO NOT get whole life insurance.