Which life insurance is better term or whole life?
If you only need life insurance for a relatively short period of time (such as only when you have minor children to raise), term may be better as the premiums are more affordable. If you need permanent coverage that lasts your entire life, whole life is likely preferred.
What is the disadvantage of whole life insurance?
What is the downside of whole life insurance? Compared to a term life policy, a whole life policy is more expensive and complex, in part because it's designed to provide a death benefit that lasts a lifetime.
Does Dave Ramsey recommend whole life?
Dave Ramsey is not a fan of whole life insurance\n\n Many financial experts advise against buying whole life insurance. And Dave Ramsey is one of them. In fact, Ramsey point blank says whole life insurance is a rip-off.
Does Suze Orman recommend whole life insurance?
Consumers buying life insurance have a choice between term and whole life policies. Suze Orman recommends term life policies.