COcheesehead
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
I think where people get into trouble is substituting insurance for investment products. Insurance can be bought for insurance purposes, a tax shelter or hybrid situations like as a substitute for LTC coverage when specific riders are added.
If you are buying it as an investment, that is a mistake. If you are in a high tax bracket, sometimes it makes sense to overfund a whole life policy to have one more tax shelter when you have maxed out all your other tax deferred investments. In cases like that the funds in the policy should be viewed as part of your cash/bond allocation. Nothing more.
If you are buying it as an investment, that is a mistake. If you are in a high tax bracket, sometimes it makes sense to overfund a whole life policy to have one more tax shelter when you have maxed out all your other tax deferred investments. In cases like that the funds in the policy should be viewed as part of your cash/bond allocation. Nothing more.