Permanent life insurance , worth investing?
Team, A northwestern mutual life insurance agent has been advising for permanent life insurance. His policy premium is $476 per month Death benefit : $2m Tax accumulated accumulated value growth (guaranteed): $60k at the end of 60 But it offered accelerated care benefits including long term care etc Thoughts? YOE: 15 tC: 250k (NC)
been getting spammed about it too, commenting to follow
Nerdwallet estimate for a 35M in NC for a 30yr 2M term policy is like 150-200/mo. Permanent/total life is a scam
Go through life insurance via work.
Will be expensive if you decide to take the policy with you in case of a layoff.
If you worry about layoff your are doing something wrong. Employees have the power now.
This is horrible do not do it
Just get term life insurance if necessary and invest the difference. Whole life insurance or "permanent" life insurance is a scam. The agents make good commission off of it.
Stick with term, you will have a high income and with adequate retirement savings you should be fine in retirement. Term should cover you Incase you don't make it to retirement age.
I almost fell for that, look at the breakdown of premiums. Majority of first 2 years goes to agent as commission. They market it as an investment, it is not, it's a money pit.
Don’t do it and run! I bet your agent will tell you to not contribute to your 401K and instead use that money on on life insurance.
Buy term and invest the difference. Buy online and save.
This kind of thing is a scam