One of our web site’s videos, “Whole Life and Universal Life” has started a war on YouTube.  It is apparent to me that there are some folks that feel that permanent insurance, specifically whole life insurance, is an instrument of the devil.  This would be the only explanation to me as to why the subject makes some people foam at the mouth.  The Term-only camp has a difficult time engaging in any civil conversations about permanent insurance.  Bullying and name-calling has replaced civilized debate.  Several companies have been established solely to engage in this battle.

Permanent-only advocates consider the “termites” to be beneath them and, therefore, find any conversation with them to be a waste of time.   Therefore, I am going to make a short statement that can easily bring an end to this Hatfield-McCoy battle that has been raging on in this industry since term insurance was invented (provided both sides are encouraged to put down their arms).

Both term and permanent insurance have a place in this world.  There, I’ve said it and I’m braced to suffer the slings and arrows from both camps.

For most folks, term insurance is probably the best choice.  However, there are those who would benefit from permanent insurance, as their insurance needs, for many reasons, will extend throughout their lifetimes.

There is no cookie-cutter, one-size-fits-all approach to life insurance.  Both term and permanent insurance are valid instruments of income and/or asset protection.  A good agent or advisor should have a variety of life insurance products to offer their clients, and not try to squeeze “the wrong shoe on the wrong foot.”