Quote:
Originally Posted by Twisted Canuck
Lots. Do some research on the topic, and you will quickly find most financial advisors will recommend term insurance, and do your investing elsewhere. It's a bundled product, you are paying for an insurance component and and investment/saving component. It is notoriously bad returns, and you can only ever collect on one component.
I'm sure some salesman will show up shortly to extol the virtue of it though, because their commissions are obscenely bloated compared to term. It's why insurance companies are filthy profitable.
Here's a primer on the topic:
https://blog.wealthfront.com/whole-v...ce-investment/ |
Sorry but I gotta call BS I bought permanent insurance in my 20\s and 30\s total around 60 bucks a month. I finally decided a few yrs ago that I did not really need the life ins. so I cased em out Close to 100K so I closed them a yr apart. If I had put the money in a mutual fund maybe would have done better but I needed the insurance and it turned out to be a great investment for me and my family.