I have been looking into Whole Life Insurance as this is what an agent is trying to sell me. I have been researching it and it is steadily losing the lusher I once thought it had. I feel like my money is better served in other areas like Term Life plus other investments that traditionally see a higher return. I have no particular need for a huge death benefit (when I am old) at this time.
The following, if true, would be the fact that confirms that I will NOT make this Whole Life purchase.
I was reading the White Coat Investor and he linked this LIMRA and Society of Actuaries study: LINK
On page 19, it states that the annual rate of Whole Life lapsing is at 4%, which would mean about 80% of investors never see the death benefit. This would mean that 80% see a bad return on their investment.
Do people here doubt the accuracy of this study, or draw a conclusion counter to mine?