I have friends who made a nice living selling life insurance. Are upper middle class Americans in much need of whole life insurance?
I get insurance that will pay for family housing, food, clothing, children’s education and to some extent personal or family liabilities if the family bread winner dies unexpectedly in early or mid career. I do not get life insurance as a particularly wise investment choice. I think I understand the tax impacts of death. It seems to me the insurance sales pitches of old often emphasized the investment side of insurance.
Is that still the case? With burial money in hand, a paid for house and grown children, what’s the point of whole life?
I get insurance that will pay for family housing, food, clothing, children’s education and to some extent personal or family liabilities if the family bread winner dies unexpectedly in early or mid career. I do not get life insurance as a particularly wise investment choice. I think I understand the tax impacts of death. It seems to me the insurance sales pitches of old often emphasized the investment side of insurance.
Is that still the case? With burial money in hand, a paid for house and grown children, what’s the point of whole life?
