Whole life insurance is NOT savings
Have you ever thought of selling cash value life insurance as an investment? You probably need to think again because according to experts, this is a very foolish thing to do. Elpasotimes.com reports:
A cash value life insurance policy isn’t an appropriate vehicle to pay for children’s college expenses. The suitable vehicle is an asset-allocated mutual fund as an education IRA. Children need just enough life insurance to pay for a funeral, which can be purchased as a child term rider on a parent’s term life insurance policy.
Read more: Don’t think of whole life insurance as savings
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