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Subject:  Re: It's Whole Life - not annuities Date:  5/17/2012  9:52 AM
Author:  JLC Number:  70693 of 88051

About 25 years ago I bought a whole life policy before I became financially educated. Was told that it was a way for high income earners to save tax deferred. IF I could do it over again, I'd buy term insurance and invest the difference.

The only thing that makes me feel OK about buying, my surrender cash value is now more than my total premiums paid. So I tell myself that I'm now getting "free" insurance.

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