re: Whole Life Insurance Lapse Rate

quote:

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All of what you have said is true, but in this environment I think they are good. With rates being as low as they are getting into one now isn't that bad of an idea especially if you are young in your mid 20s. Over fund them by $10 a month will carry the policy well into the 90s

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I'll just have to disagree here. These policies were designed to be sustained with interests rates in the teens. Over the long term, they do not last, and nobody sells them overfunded. They sell them at the minimum premium amount so that it can compete in price with WL.

After all I've seen from them, I have about as much respect for them as I do a ponzi scheme.