Quote:
Originally Posted by HNorton
Many of the buy term and invest the difference folks are WAY more investment and financially savvy than the rest of Americans. The ugly truth is that when faced with investing the difference...most don't. Also people tend to accumulate more debt as they age vs. paying it down.(just the facts) With that being said I'm not against permanent insurance. Universal life provides permanent protection and it's not too much more than Term. If you are disciplined enough to buy term and invest the difference it is a better way, but that represents a fraction of the populus.
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Which is of course, a poor way to handle your finances. Since this is a site specifically to help people with finances, it makes no sense to recommend to do something that is stupid to do. I restate - insurance is for insurance, not to make money. If you try to make money with it, you are either doing insurance fraud or making poor money decisions.