Which of the following is a disadvantage of purchasing a whole life insurance policy?

Purchasing a whole life insurance policy does indeed come with the disadvantage of being typically more expensive than term insurance. This is largely due to the permanent nature of whole life insurance, which provides coverage for the insured's entire life as long as premiums are paid. In contrast, term insurance is designed to be more affordable because it only provides coverage for a specified period, such as 10, 20, or 30 years, and does not include any cash value accumulation.

Whole life policies also include an investment component that accumulates cash value over time, which contributes to the higher cost. While the fixed premium feature of whole life insurance can be seen as an advantage for some, it can make the initial financial commitment more challenging for individuals seeking lower upfront costs. Additionally, whole life insurance is not geared towards only temporary needs like term policies are, as it is designed for long-term financial protection and estate planning. Therefore, the higher cost of whole life insurance is a significant consideration for buyers weighing their options, making it a clear disadvantage compared to term insurance.