In my last post on the true reason to choose term life insurance over a whole life, I explained that in order to obtain adequate coverage for a typical family person, it will be quite challenging to do it with solely whole life insurance.
I have gotten a range of feedbacks but generally, some readers were unhappy that my views were so slanted against whole life. There were also comments that stated there were some nuances that I should have considered.
I decided not to sit on the fence because I got sick hearing of all friends and ex-colleagues that were underinsured because they have $XXXX and their personal planners recommended them policies that take away all their cash flows yet not covered enough.
I think I have explained my stance and if whole life is really that great here is something to try.
You know, a common risk of pre-mature death is when a spouse passes away, the surviving spouse will have to take on the burden of the home mortgage....