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@exoduskamman Ask your friend to get illustrations with policy getting credited an average of 4-5% a year. If he is happy with that, consider it. If he needs a higher return for it to make sense, then pass. Anything higher is overly optimistic.

@rabshield Premium doesn't really tell you the cost. I'm not a life insurance agent and have no service to sell you, but I'm pretty well versed in these policies and can explain them pretty well. I'm happy to jump on a call if you like.

@viveri If the crediting rates meet target year after year. If it doesn’t, the onus and risk is on the insured to notice the shortfall and fund it.

@worriedmom1968 Who is responsible for premium payments when the 4 years are up?

@deltoots I would suggest get a convertible term insurance policy from a carrier that has a strong whole life product like Guardian, MassMutual, New York Life or Northwestern Mutual. Take your time to learn what whole life insurance is in detail. If you want it, you can change some of the term...

@4_his_glory Here's a brief write up on that point: https://oc-lic.com/pay-attention-to-term-conversion/

@clark_kent How many years?

@4_his_glory True, I think the only area that requires some real analysis is the conversion clause. Some are more valuable than others depending of what is available to convert to.

@anon77777 I think it's worth the time to speak to more than one, especially if they are not referred to you. Most brokers/agents aren't all that great in my experience.

@gmmintro If this is for term insurance and the prices are similar, I would pick off who has the best langauge and options for conversion to permanent policies. If you think there is a high probability you will want permanent coverage at some point, I wouldn't go with any of them.