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Apr 21, 2017
10:33:12am
Superman21 Starter
I have never been able to wrap my mind around this argument.
How is it an asset diversification of it costs way more to buy than you would get out of it? Plan for the future and buy term. Invest the difference between the term and the whole life and you will come out way ahead.

After you have passed the term the whole life still doesn't make sense, especially as way to diversify assets unless you want to diversify your assets into someone else's pockets. There are a myriad of ways to diversify your assets without getting bled from a whole life policy.

I have heard one good argument for whole life. A guy wanted to guarantee that he give 2 mil to each kid when he died. He paid out the nose for the policy and already had enough assets that he would be close to doing that. But he wanted to guarantee it. If he died next year he would accomplish is goal, if he lived another 20-30 years he should have just invested the amount he would pay in premiums and he would have as much if not more to give to his kids.

Even though it was the best argument, it still didn't make snense financially.
Superman21
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Superman21
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