Quote:
Originally Posted by PeterG
I know you didn't ask, but I cant quite help myself--Whole Life Insurance is among the worst investment vehicles a person can buy--it's simply adding a high cost/low return investment fund on top of term life insurance. The agent who sold it to you took a hefty commission. If you find a good financial planner, he'll explain the details, and he'll illustrate how you'd be better off buying term insurance and investing the difference alongside your existing Fidelity account. If the financial planner you find does not do this, he is either an insurance salesman or not very good at his job.
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Great advice by Peter G. Whole Life is possibly the worst investment you can make just below an annuity. High cost low rate of return equals a poor investment. Even universal life is an iffy investment at best. Just do a small comparison between your cash value in you whole policy and you mutual fund account and there will be a very stark difference.
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