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Like all the insurance threads on this forum, there is no right answer. Premiums are based on a lot of individual characteristics of the policy holder. I will say I think your premium is awfully high. I realize the $171 per month is for all three policies but I pay $116 per month for my $1.5 million, 20-year term life policy. But because the $1.5 million is single policy as opposed to three separate policies, that likely drives some of the lower premium.
And the $1.5 million is not based just on our debt but instead it is to provide for my wife and kids should that bus take me out one day!
As for whole life, I am no expert but I'd rather save and invest for myself. Whole life is costly when compared to term but it is in effect forced savings...
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2021 X3 M40i
1974 2002tii, Inka, 5 sp manual
BMWCCA # 327475
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