Yes, insurance can be a good investment, if you choose well.  Buying insurance is buying peace of mind.  Buying the right insurance is also an investment that can add to your quality of life when you are not in position to work as hard as you can today.  Need some insights?

Finding the right insurance for your long term planning can be complicated.  The best way to et this answer is to know the financial details.

  • How does it work?
  • What are the payments to the insurance company?
  • When and what kind of benefits, or returns, will you get after years of premiums? can connect you to informed, licensed independent insurance professionals who can help you weigh the pros and cons of each whole life policy.  While the premiums are sure to run higher than those for term insurance, Whole Life insurance will last your entire life and offer guaranteed cash value accumulation.

While you are asking questions regarding a whole life policy as an investment, consider universal life insurance.  Universal live insurance usually offers flexible premiums, an adjustable death benefit and a savings component.  Just keep in mind that it may require a medical exam to qualify  Talk to your agent about the differences in each type of policy before you make the decision about which is best for you.  The three questions above are a good guide on which answers you need before other policy information.

A whole life policy is more about insurance than about investing;  yet, it offers dual benefit of holding your money for you until retirement, it does not have caps that the 401K has and is a tax deferred method of saving.  Ultimately, your insurance agent can walk you through how the different types of policies would be structured, but you must make the decision on what is right for you and your loved ones.