The Problem With Whole Life Insurance

The average rate of return nationally is 1.2%. Let's be generous and just say it is 3%. Give it more than double what it actually is. You can get a higher rate of return in a government backed T bill than you could on this whole life policy. If you die, that money goes back to the insurance company. And all your beneficiaries get is the face value, which is the same exact face value that you would get with term life insurance. I think this is one of the worst products of all time.

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