Direct answer
It depends on your current cash flow and long-term financial goals, as whole life insurance provides a permanent death benefit and cash value growth but comes with higher premiums than term life alternatives.
Actuarial financial planning standards for high-income-potential professionals. For additional information on best practices for high-net-worth financial planning, see the American Institute of CPAs (AICPA).
What this means for you
It depends on your current cash flow and long-term financial goals, as whole life insurance provides a permanent death benefit and cash value growth but comes with higher premiums than term life alternatives.
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