Whole Life Insurance … Love It or Leave It?
Whole life insurance has several benefits. There is a guaranteed savings account (also known as cash value). Whole life also provides long-term death benefit protection. While there are many reasons to purchase a whole life policy, currently low interest rates are making it challenging for existing whole life policyowners.
If you have a whole life policy, is it still serving you well? Could you be facing additional premium payments going forward? Now may be a good time to re-evaluate your whole life policy for three reasons.
Reason #1: Lower interest rates are not good for policy dividends
Lower interest rates may
