Is Whole Life Insurance Worth It?!

Is Whole Life Insurance Worth It? Whole life insurance is often pitched as an investment alternative to traditional investment options such as brokerage or retirement accounts. So how does it stack up against them? The TLDR is: whole life insurance is more expensive than term life insurance for a smaller death benefit. AND on top of that, the investment portion of the policy (the cash value) performs WORSE than a high yield savings account. Watch me break down an actual policy that was pitched to a prospect of mine.

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Eric Amzalag, CFP®, RICP®

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0:00 Intro
1:07 Breaking Life Insurance into Two categories
1:18 How Does Whole Life Insurance Stack Up Against Other Life Insurances?
1:45 How Does Whole Life Insurance Compare to Other Types of Investments?
2:07 Explaining Permanent Life Insurance vs. Temporary Life Insurance
4:55 How Does the Investment Portion of Whole Life Insurance Work?
6:31 Reviewing an Actual Whole Life Insurance Policy Proposed to a Prospect of Mine
9:12 Results of My Analysis
9:30 Whole Life Insurance Is NOT A Good Investment (in most cases)
10:19 Why you Should Have a Fee Only Fiduciary Financial Advisor Evaluate Any Whole Life Policy Pitched as an Investment
11:10 There are cases where whole life insurance is useful...
11:55 Thanks for watching! Please like and subscribe!

Disclaimer: Please consult with your own tax, legal and financial advisors for personalized advice.

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