Large Face Amount Whole Life

[motoxxx]

For straight death benefit, a UL policy will most often have a significantly higher death benefit up front. However with a good participating whole life policy, in the later years of life, there will be significant death benefit growth through the use of paid up additions.

I frequently sell WL policies in excess of 250k and the reasons are for the guarantees associated with whole life and the flexibility of withdrawals/loans without affecting the cost of insurance. Not to make this a UL vs. WL debate but I find that the type of policy I sell depends on the clients needs. I have found that in most situations, if cash value is a primary goal of the life insurance, then to properly fund a UL, will be similar in premium to a WL/Term blend. My unofficial, very general, with some exceptions-ish rule is UL= Flexibility Now, WL= Flexibility at withdrawal.

I agree with everything you just posted. I have a $500K whole life and the cash value and paid up additions have been serving me very well. I don't use it for the loans....Yet....