No. of Recommendations: 0
I just happen to read the Fool's section on insurance yesterday. The biggest beef I have with it is the opening philosophy of not being an estate planning tool or and investment. The rest of the article brought up some good points. Insurance is certainly a viable tool in estate planning. I don't think that any financial advisor worth his or her salt would disagree with that. Insurance can be an alternate investment vehicle if set up properly. I would certainly never offer it to a client as a primary investment vehicle.

I'm sorry that the lady in that insurance article got the shaft, but there are many variables at play here. She obviously did not understand what she had purchased, and either the agent was totally incompetent or was a crook. An agent or planner that understands policy structure, would never give advice such as what was given her.

You will see stories like that everywhere, but that doesn't make the tool a bad tool. It was totally misused.

I can show you many clients of mine who were totally screwed by their stock broker, but does that make investing in stocks bad???

I appreciate your input!

Alan Mcknight, CFP
Print the post  


The Retirement Investing Board
This is the board for all discussions related to Investing for and during retirement. To keep the board relevant and Foolish to everyone, please avoid making any posts pertaining to political partisanship. Fool on and Retire on!
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.