Whole life insurance is a terrible investment…
They said with authority.
First, whole life insurance isn’t an investment, unless of course you consider it an investment in securing the foundation of the rest of your entire financial strategy.
Second, compared to what?
That’s a great question to ask whenever somebody makes an assertion about how good or bad a financial product is.
How many investments or financial products give you ALL of these qualities?
-tax free growth
-conservative rate of return
-protection from creditors
-guaranteed to never go down
-no questions asked loan against the equity
-complete control over the asset
-complete control over the loan against the asset including payback terms
-backed by actuarial science
Not too many.
Whole life insurance does. So if you already have a specially designed whole life policy, feel confident in knowing that you have a tier one asset serving as the foundation of your financial strategy.
As always, contact us with any specific questions or ideas concerning the use of your policy, or if you are interested in learning more about adding to your tier one assets.
Thanks, and please share this with anyone you think would find it valuable.