Health Dependency: If you develop serious conditions during the term, renewing or converting may be expensive or impossible.
Permanent Life Insurance Pros
Lifelong Coverage: As long as premiums are paid, the death benefit is guaranteed. You cannot outlive the policy.
Cash Value Accumulation: Tax-deferred growth and tax-free loans against cash value. Can serve as an emergency reserve in later policy years.
Premium Stability: Whole life premiums never increase. Universal life offers flexibility to reduce payments during lean years.