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Q. Is Life Insurance a Good Investment?
Strictly speaking, life insurance is not an investment, but it is an important foundation for one’s investment strategies.
If you were in your 20s or 30s and somehow had a “Guarantee that you would live past 80; Then you would better off putting the amount of the premium away each month rather than buy the insurance. The problem with that logic is that “Life does not come with guarantees.” No other “investment” comes not only with a guarantee but with the full value on day one.
Sometimes things do work-out quite the way we plan. It might be helpful to Think of Life Insurance as “Plan B.” Once you have purchased a sufficient amount of Life Insurance to Replace your income after you are “Gone”, you can then build a long term investment strategy free from worrying about how your family will be able to cover their bills.