New Blog Posts:

Friday, May 30, 2008

Just thinking...

When I was younger, I had one of those plans where you had life insurance with a savings component. You remember those? I think they were called whole life insurance. I wonder if they are still around? I hadn't heard any buzz about them lately. I think most people have been advised, like I have to switch to the less expensive basic term life insurance and invest the savings into a mutual fund or a 401k or another form of retirement account. Most financial advisers will tell you that is the smarter route to go as your money will earn more in an investment fund than an insurance with a savings account. If you still have one of those whole life policies, maybe you should get term life insurance quotes and compare the amount of money you would save and how much more you would earn in interest if you put that money elsewhere.

No comments: