Whole Life Insurance Disadvantages

Hard to get if you've already developed health problems
You cannot choose between separate interest bearing accounts
Few live to 100, so the maturity age is impractical
You canít vary the monthly premium payment
Your premium paying period may last longer than your career
You canít increase the amount of coverage
Premiums are set by the insurance company
Loans are deducted from your cash value or death benefit
The cash value at retirement age may be less than your face value
Interest is adjusted annually
Premiums are much higher than term life
You may have to surrender your policy if you over withdrawal

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