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Reply to "Anyone buy whole life insurance for young adult dc?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]We have one of these and used it when we needed cash—buying a car, house, etc. It has been a really nice cushion and meant we took out fewer loans, never had credit card debt, etc. [/quote] You would have had more $ if someone had invested what they spent in premiums into the stock market. Whole life isn't a good financial deal for most people, unless you are the insurance salesperson. [/quote] But (and this is me not understanding, and generically for this type of insurance --not just for young adult but any adult) If you just took the money and put it into the stock market you also don't have the insurance component, correct? The insurance component is to protect against a tragic income loss (for an adult or a spouse). [/quote]
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