Quote:
Originally Posted by BlackHarley
By no means is permanent insurance a fraud. It's a reasonable alternative and or addition to traditional investments IF personalized to your situation AND if you can pass underwriting criteria for insurability. Don't rule it out, simply speak to several advisors.
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Unfortunately, many of the "advisors" who convince people to buy permanent insurance are actually insurance salespeople who make a large commission for selling the insurance. It's fine to speak to an advisor, as long as the advisor is not also an insurance salesperson. Most non-biased advisors will not recommend permanent insurance. The primary purpose for life insurance is to replace lost income for someone who needs financial support when you die. A "term" life insurance policy is the most economical product to accomplish that goal, not permanent insurance.