Is whole life insurance worth it?
Answered by 4 licensed agents
Answered by Melanie Blackston on August 29, 2026
Broker Licensed in SC, GA & NC
Whole life insurance builds cash value. Some WL insurance has a reduced paid up feature & some offer dividends. Most plans the premiums will not change.
If you pay for some WL policies for a certain period of time & stop paying for whatever reason- 2 things could happen
1. If you’ve built up cash value, it will continue paying the premium from your cash value until you start back paying
2. If you stop paying & don’t start back, depending on how long you’ve had the plan in place, it may become a reduced paid up policy.
Example: I have a client who purchased a $25k WL policy on her child. Hard times came & the premiums could not be paid any longer. Now they have a $11k paid up policy. No more premiums need to be paid. She’s a happy client!
I read through a variable WL policy once. I would not offer that plan. Once the client was older, their premiums went up. Be careful & don’t purchase a variable WL policy.
WL (Whole Life) is permanent life insurance. It does not expire as long as premiums are paid or if some of the above riders or options are included in the plan.
Lastly I must mention, a lot of people use WL insurance to build cash value to be used for whatever reason they want. You can take a loan from yourself without a credit check. That’s been a huge thing for many many years. It’s used to supplement retirement also or being your own banker concept.
Final Expense is usually written with a WL policy.
I am long winded so hope this answered your question.
Answered by Sandra Bailey on August 30, 2026
Broker Licensed in TN
Answered by Chauncey Quinn on September 3, 2026
Broker Licensed in MI, GA, IA & 8 other states
Answered by Jerry Cohen on September 10, 2026
Broker Licensed in NY, CT, DC, FL, NC & SC
Tags: Whole Life
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