When is Whole Life Insurance a Good Choice?

1. When it is doing what you want it to do.

2. When it is providing an acceptable tax-free rate of return

3. When you already own a whole life policy and your health insurability has deteriorated for some reason

4. When there is not an acceptable alternative

5. When the guaranteed cash value and guaranteed premium are a comfort to you.

6. When you do not want to take the responsibility or time to manage a policy that relegates policy control to the policy owner

7. When the money in the policy does not represent a significant investment to you and you do not care to be concerned with the return on it.

Caution: Do not act on any of this until you have thoroughly discussed it with your beneficiaries, your doctor, your tax and legal advisors, and your personal insurance and financial advisors.

Actions taken will have an impact on you and your family's economic security and should only be taken in the context of an overall financial plan carefully discussed with your trusted financial advisors. Never terminate a life insurance contract until a replacement contract has been underwritten and issued, and you and your advisors find it acceptable and preferable in every way.