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If term life insurance + self-invested funds nets more money than whole life insurance then it is better to buy term life insurance and self invest your funds.

The problem with whole life are the massive profit the company takes and the massive commission the salesperson takes. If:

A represents the value of a term life policy after costs

B represents the value of investing after costs

C represents value of a whole life policy after costs

In all circumstances I've evaluated but one, A+B comes out ahead of C. The only circumstance where C has a chance of coming out ahead from what I've seen is as part of an estate plan to minimize taxes.