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Since getting my own life insurance plan a couple of years ago, I’ve been blown away by what a cool tax-free, wealth-building loophole it is! Here are 4 things to look out for when choosing your own policy 🙃
6 comments
Anything backed by Berkshire Hathaway is almost a synch
Thanks Rose!
i've never met a fiduciary insurance company that is truely looking out for the policy holder. in the end, they are still working a job where there are spiffs or commissions that will give them a higher pay.
Buy Term life and invest the difference in a Roth IRA. Stay away from Index Universal Life or Whole Life. It's a major rip off. Look up Suze Orman and Dave Ramsey. They are against Universal or Whole Life because of the rip off.
Why have life insurance at all? I never have. Saved me a fortune over the years. No wonder insurance company towers are the tallest, poshest buildings in town. They're betting that nothing will happen to you, while you're betting that it will. Who wins that bet 99% of the time? They do. There are better ways of managing your risk than enriching these city slickers.
An independent agent will look for the biggest commission. You need a trustworthy person first and foremost. Good advice anyway.