Rates are at an all time Low;

Due to people living longer

PROS:

Low cost for Healthy Non-Smoking People
Available for 10, 15, 20, 25 or 30 yr terms
Many Ratings available for individuals with medical issues
There are non paramed plans available: blood and urine are not drawn, however those plans have higher premiums
Most are convertable when term runs out; in case you have acquired an illness and need to keep the plan in place; however rate will increase to current age rates, when conversion takes place

CONS:

For those afraid of needles...Some plans require a Paramed - Blood and Urine drawn - for an acceptance offer
You will be rated up for being a smoker
Some people will be declined for LI due to illness such as AIDS
Some people will be rated up due to Sickness or Illness; such as Diabetes

BENEFITS:

Provides Life Insurance Death Benefit
Build Cash Value with No Market Risk; Income Protection at it's best
Higher rate of return than current CD's and Savings Vehicles
Follows the Market with out being in the Market - no risk savings
Life Time Benefits when set up correctly
When you borrow your money you still be receiving interest as if your money is still "in the plan" because in fact...it is
Ability to Take Control of your money
IRS & Government approved
LIVING BENEFITS:
Long Term Care Included w/most plans
Critical and Terminal Illness included too

CONS:

This is for the Long Haul...think "down the road: when thinking about withdrawing your money
It's not a quick fix - look for borrowing your money during years 7-10; unless a lump sum is deposited up front...then think sooner
Fees are highest during the first 7-10 years then lower after that...but usually still lower than 401k fees over all
These plans are for healthy individuals