Permanent Life Insurance is not bad. There are some who look at life insurance as an investment and compared to investments permanent insurance will not have the gains an investment may have. Permanent Life Insurance has been used to help protect large estate, provide final expenses, and insure business continuation. Life Insurance is not an investment it was never meant to be an investment. Permanent life insurance is designed for long term need and provides a safe secure way to provide protection when it is needed most.
Insurance Adviser - Broker, SC Insurance Services, Oahu, Hawaii
Permanent life insurance is NOT bad! There are a number of different types of "permanent" life insurance and some are better than others depending on your goals and needs. What is bad is when sales people misrepresent the policy they are selling! Permanent insurance includes Whole Life, Universal Life, and the variations of Universal such as Indexed, variable and variable indexed. Variable basically means that it's tied to the stock market. Indexed basically means that it's tied to a particular "index" such as the S&P 500.
Whole Life is the only one with Guaranteed Premiums, Cash Value growth and Death Benefit with no downside risk.
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Whole Life is the only one with Guaranteed Premiums, Cash Value growth and Death Benefit with no downside risk.