Permanent life insurance

socbe7 said

I'm looking to purchase life insurance for my fiance and I. A financial advisor we just started working with tells me it's a no brainer to go with permanent life insurance vs term. From what I understand, it makes sense too, but seems too good to be true. Anybody have this or know about it? What are the drawbacks?

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At your age, you should probably go with term policies - you could get a 20 year policy for fairly inexpensive premiums if you don't have any particular health issues.

Whole life isn't really insurance as much as it is a financial investment instrument. And there's just better options out there for long-term investment.