See whether got limited payment options for the whole life plan. Whole life covers you for life and while the premiums might be high, if you can pay it off within a few years while you are still working using limited payment, why not?
As some people point out, WL have CI coverage which is important during your retirement period.
And since you are young, premiums for limited payment is still relatively affordable.
Not asking you to drop term but a WL with limited payment is a very good addition to your insurance mix
18 Jun 2018
Yes. They are non ilp. Basically instead of paying for life for WL, you pay only for a certain number of years. Like, you pay 20 years only for this WL plan and your coverage is till youe death. This helps in your retirement period whereby you are still covered but you are not paying anymore since you already paid finished
Hi Anon, It's not a question of one over the other.
I believe in getting WL for CI and ECI purposes...
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