Sensible way to insure yourself - with term insurance

No need to buy costly whole life plans for most of your protection needs

About a month ago, I gave a talk on insurance at a personal finance event. During the talk, I outlined how most of our protection needs can be met by using low-cost term insurance and that there is no need to buy costly whole life plans.

After the event, someone shared an article on Facebook showing that what I said might not be valid. The writer of the article stated that a whole life plan is actually cheaper than a term plan if you consider the accumulated guaranteed and non-guaranteed cash value.

Please or to continue reading the full article.

Get unlimited access to all stories at $0.99/month

  • Latest headlines and exclusive stories
  • In-depth analyses and award-winning multimedia content
  • Get access to all with our no-contract promotional package at only $0.99/month for the first 3 months*

*Terms and conditions apply.

A version of this article appeared in the print edition of The Sunday Times on March 31, 2019, with the headline 'Sensible way to insure yourself - with term insurance'. Subscribe