Which type of cash value life insurance policy is a “better buy”?
There is no simple answer to this question. The best performing product (from a financial perspective), whether universal life, whole life or some other type of cash value life insurance, will likely be the one offered by the insurer that enjoys the best future experience as it relates to interest earnings, actual expenses and mortality costs. Insurers earning the highest investment income, and who also incur the lowest expenses and the lowest mortality costs, are in the best position to offer life insurance at the lowest cost. This is true whether the cash value life insurance product being offered is universal or whole life. Thus, it will be necessary for prospective insurers and their advisors to carefully examine the financial aspects of each product under consideration, irrespective of what type the product is. Is credit life insurance a good buy? Credit life insurance is frequently more expensive than traditional term life insurance. Further, if you already own a sufficient amoun
