: You have already maximized contributions to 401(k)s and IRAs and want a tax-advantaged vehicle for additional wealth. When You SHOULD NOT Buy It
: You have a child with a disability or an adult family member who will always rely on your support. should i buy permanent life insurance
: If your main goal is protecting your kids until they finish college or paying off a 30-year mortgage, term life is a better fit. 📊 Quick Comparison: Permanent vs. Term Permanent (Whole/Universal) Duration Lasts your entire life Lasts 10, 20, or 30 years Cost Significantly higher Low and affordable Cash Value Yes (grows tax-deferred) Best For Estate planning/High net worth Income replacement during working years : You have already maximized contributions to 401(k)s