Just want to know if it’s redundant with 401k or if its worth it even
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401k = your retirement so you get to spend it. life insurance (for you) = your death so your beneficiaries get to spend it.
I got scammed and bought it .. paying a hefty premium. I saw the numbers and if had I invested in stocks I would have had nasty gains
You didn't get scammed. Life insurance has it's place. However, if you don't have a spouse or children who depend on your income to survive, than you don't really need it.
No wonder from your question. Read some info before purchasing. Btw, perhaps you didn't get scammed. Find out how it works and what the benefits are. Insurance shouldn't be brought as an investment, it has a different purpose..
Life insurance is not the same thing as a 401(k). They aren't redundant