Comparisons between whole life insurance and term insurance are usually simplified by pricing. Whole life is more expensive when you shop for protection.
On the other hand, for those who need forced savings and who would not put what they would save from lower term life premiums into proper, low cost mutual funds, whole life is still a choice.
Particularly because whole life policy earnings, while lower, are tax exempted.
Another comparison often overlooked: There is always an extended term option in a whole life policy; the policyholder can convert the contract into term insurance at a later date, and without the need of a physical exam, even if otherwise uninsurable. (See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole at Twitter.)
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