Good Reason For Whole Life Insurance Quotes? | Insurance ...

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**People who “invest” in whole life for the cash value, haven’t run the numbers. When you automatically ‘lose’ 90% of the money you pay in to the insurance company, year in, year out, that’s a pretty rotten return. Life insurance is NOT NOT NOT a good investment tool. It’s a DEATH PLANNING tool, or an estate planning tool.”

Those that think term life insurance is the only right product are operating under the assumption that it is impossible to create a good whole life policy. This idea is generally backed up by making comparisons of dissimilar products. To support their reasoning they always compare a whole life policy that has underlying guarantees with a combination of term insurance with a sidefund that is without any guarantee of return of investment. If they were to do their job properly, they would compare policies like your Knights of Columbus whole life with term insurance and bank savings. Or they could compare term insurance with mutual funds with a variable life policy. However, were they to do so, they would prove that the whole life policy eventually would blow away “buy term and invest the difference.”

Source: Good Reason For Whole Life Insurance Quotes? | Insurance ...