by SwoOh » Tue Apr 23, 2019 2:07 pm
As an insurance agent myself I cannot tell you how many times I have heard other agents reference why Cash Value Life Insurance policies are such a great investment for numerous reasons including their supposed "tax advantages."
I am a firm believer that in the best of all worlds - "Life Insurance Agents would Sell - Pure Life Insurance".
Pure life insurance, such as Term is often 1/10 to 1/20th of the cost of their more expensive brethren Whole and Universal Life Insurance.
But the cost of this more expensive form of life insurance is just the tip of the iceberg. In reality very few insurance agents are actually tax people. There is a rather large universe of other investment options in compared to whole life.
Roth IRAs, 529s, and HSA accounts just to name a few.
There are so many other investment considerations though, I really have no idea why many insurance agents feel comfortable sitting down and 'advising' people to 'invest' in life insurance.
As an insurance agent myself I cannot tell you how many times I have heard other agents reference why Cash Value Life Insurance policies are such a great investment for numerous reasons including their supposed "tax advantages."
I am a firm believer that in the best of all worlds - "Life Insurance Agents would Sell - Pure Life Insurance".
Pure life insurance, such as Term is often 1/10 to 1/20th of the cost of their more expensive brethren Whole and Universal Life Insurance.
But the cost of this more expensive form of life insurance is just the tip of the iceberg. In reality very few insurance agents are actually tax people. There is a rather large universe of other investment options in compared to whole life.
Roth IRAs, 529s, and HSA accounts just to name a few.
There are so many other investment considerations though, I really have no idea why many insurance agents feel comfortable sitting down and 'advising' people to 'invest' in life insurance.