Jul 17, 2022
No Need To Buy Whole Life Insurance, Skip The Middleman...
Today, we’re talking about the “scam” that has been perpetuated by life insurance companies for over a hundred years. I know, I can hear you saying to yourself, “which scam is that, there are so many to choose from”?
Am I right? I'm talking about the supposed scam to sucker you out of the gains that you could be making. if you skipped life insurance and bought the investments that they put their money in—yourself.
As you know, when you give a life insurance company your money
(aka paying your premium), they're just investing your money in
something you could do for yourself.
And it’s a question we get a lot. Various articles and blog posts
have been written on this argument, suggesting that you could skip
that, avoid paying those fees and invest your cash in those things
they are going to buy yourself.
But something as seemingly boring as bonds is quite complex. And
if you think you can replicate that in the same way an
institutional investor is, you’re kidding yourself.
And the bigger point that people miss is that the insurance company
is wrapping up those bonds so that you don’t have the principal
loss. You’re not going to achieve the same result that an insurance
company does.
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