Why do people think Whole Life is so bad compared to other types of life insurances?

I’m 27, don’t smoke, and in great health and was considering getting a whole life policy even though I already have a 30 year $500k term policy. I want both term and whole at the same time by the same insurer.

The term life policy that I currently have is convertible, but I’ve heard that when I get closer to the maturity date and I’m ready to convert it over to whole life, it will create a whole new premium that will likely be extremely expensive because they will go through the whole underwriting process again and/or base the newly converted policy on my age (and health if they check that again too.)

I don’t want to be 57 years old getting life insurance again for a 2nd time after my term life policy matures/expires regardless of whether or not I converted the current term policy to a whole or applied for a new insurance, because wouldn’t getting a whole life policy at 57 be really expensive due to the age and other factors?

Some people may say “What’s the point in having both policies? Cancel the term policy if you are going to get a whole life policy.” but the reason why I still want to keep the term policy is because HELLO, $500k for if something happens (God forbid) within 30 years. And I’m not paying much for it either. Plus, the whole life policy death benefit would be no where near my current term policy death benefit because I don’t plan on spending anything more than $40-$60 a month on the whole life. Which I know would result in the lowest death benefit possible, but it doesn’t have to be a huge death benefit anyway because I shouldn’t be in a large debt at age 60, but I am now.

So basically, in summary, I would want whole life insurance in 30 years after my term insurance is expired in case I’m broke and/or if loved ones are broke and/or for accelerated death benefit, chronic, critical, and terminal illness riders in case i am diagnosed with something.