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re: Custom Variable vs Term Life Insurance Opinions
Posted on 11/9/12 at 9:08 am to Bama98
Posted on 11/9/12 at 9:08 am to Bama98
What is the purpose of life insurance? The only purpose that matters is to provide a death benefit. Everything else is just packaging to make it more appealing. If life insurance was intended to be anti-poverty in my old age insurance it would be called that.
I got news for you about renting insurance, it is unavoidable. Do you consider owning your health insurance, auto insurance or homeowners insurance? No, and you don't own your life insurance. You own a separate investment that historically performs very poorly compared to alternatives.
I got news for you about renting insurance, it is unavoidable. Do you consider owning your health insurance, auto insurance or homeowners insurance? No, and you don't own your life insurance. You own a separate investment that historically performs very poorly compared to alternatives.
1
Posted on 11/9/12 at 9:30 am to Poodlebrain
quote:
I got news for you about renting insurance, it is unavoidable. Do you consider owning your health insurance, auto insurance or homeowners insurance? No, and you don't own your life insurance. You own a separate investment that historically performs very poorly compared to alternatives.
Let me preface by saying I can't stand custom variable policies, but...
Comparing permanent life insurance to health, auto, homeowners is dishonest at best. Term insurance, yes, they are similar.
As far as the investment success is concerned, what do you consider performing poorly?
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