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I am a MF newbie and an insurance agent, so I thought I'd throw my 2 cents in on the term vs. whole life debate. Although it seems to be pretty one sided (on the side of term), there is a reason to buy at least some whole life. First, I NEVER sell life insurance as an investment. The reason for whole life (and I usually sell universal) is the security of knowing you can keep the life policy as long as you need it. No worries about having to medically requalify at outrageous premiums later on in life. And you never know how long you'll need it. You can structure the policy based on your needs; theoretically you could set up a universal policy to act like a 40 year term policy. Granted, it will be more expensive in the early years compared to a real term policy, but in the long run will have less out of pocket costs. And you know what, if it turns out you don't need the policy at some time, cash out. It wasn't a good investment, but was good for peace of mind. Like investing, it's all about risk. Did you know that less than 3% of all term policies actually pay off? BTW, disclosure wise, I have 1/2 of my insurance in term and 1/2 in universal life. I am a multi-line agent (home,auto, life, business) and welcome any questions I might be able to help out with. Hope this didn't ramble on too long...

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