Variable Universal Life Insurance - good or bad?

[gordo]

My DH and I have 20 year term life insurance. Our agent called us today and suggested we convert some of that money into a VUL policy. I have read up on it a little and not really sure what to do. Are we better off taking that money and investing elsewhere or getting a 401k? Thoughts?

[kbud]

The only life insurance you should consider is term life. You are better off investing elsewhere. Term is much cheaper than any other life insurance. Agents get much higher commissions on other types of life insurance that's why they usually suggest them.

http://www.daveramsey.com/article/term-life-vs-whole-life-insurance/lifeandmoney_insurance/

http://www.daveramsey.com/article/the-truth-about-life-insurance/

[wimama]

Don't do it! Only buy term life insurance. Whole life is a bad investment.
I would suggest looking for a new insurance agent as well. Our agent never even mentioned whole life to us. I believe previous poster is correct.
Whole life insurance = bigger commission for the agent.

[gordo]

That's what I thought. I did say to him that I had always heard whole life is a bad investment and he told me that this was different.

[DebbieJ]

Stick with term!

[Octobermommy]

It depends. Do either you or your dh have careers with a high risk liability? As in a business owner, physician etc. If not I would probably stick to term.