Term Life Insurance Drawbacks and Problems

It doesn't give you permanent life insurance coverage
If you refinance your home, your term insurance may expire while you still have an outstanding mortgage balance and/or extend your payments
You don’t accumulate cash value tax deferred
Coverage only lasts for the term length you purchase
You won’t have as many riders or features as whole or universal life insurance
It may not be appropriate for paying taxes on your estate in your senior years
Your premiums usually cannot be lowered