Life Insurance Comparison

Term Life Insurance

Pros:
Affordable premiums
Simple and easy to understand
High death benefit for low cost
Flexible term lengths
Cons:
No cash value
Temporary coverage
Renewal costs increase
No lifetime coverage

Overfunded Whole Life Insurance

Pros:
Cash value growth
Tax advantages
Lifetime coverage
Stable, guaranteed growth
Estate planning tool
Cons:
Higher premiums
Complex to manage
Opportunity cost
Surrender charges

Variable Whole Life Insurance

Pros:
Investment component
Lifetime coverage
Tax-deferred growth
Flexible investment options
Cons:
Market risk
Higher fees
Complex to manage
No guaranteed growth
Potential for loss

Summary Comparison

Feature	Term Life	Overfunded Whole Life	Variable Whole Life
Cost	Low	High	High
Cash Value	No	Yes (guaranteed growth)	Yes (market-linked growth)
Lifetime Coverage	No	Yes	Yes
Investment Component	No	No	Yes
Risk	None (pure insurance)	Low (guaranteed growth)	High (market risk)
Best For	Temporary needs	Wealth building, estate planning	Long-term growth, risk-tolerant investors