Life Insurance Direct What Are The Pros And Cons Of Term Insurance | Page 11

The other drawback is that people will find that owning a whole life
insurance policy is not unlike having a mortgage in the first few years: Fees
and premiums are high and the benefits are few early on. This does improve
considerably after the first five years, though, as whole life insurance
premiums are front-loaded.
There are also limits to contribution limits. Other plans allow for a person to
contribute more than they need to create a bigger value to their policy,
where is this one is set and can’t be increased beyond a maximum value.
Overall, there are positives and negatives to this program, but for those
looking for a rock-solid, dependable plan that they can pay into and forget
about, this is it!