Permanent or Whole Life Insurance Problems:

  • 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 can’t vary the monthly premium payment
  • Your premium paying period may last longer than your career
  • You can’t 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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