I said a few times before that we need insurance in life and, for most of us, we also need to invest for a more secure financial future.
However, insurance and investment should be kept separate to make the best use of our limited financial resources.
Buy insurance for the sake of insurance. Don't mix insurance and investment or we could end up paying too much for insurance.
Are you overpaying for insurance?
Find out about your life insurance coverage needs using this simple calculator: Click Here
Paying more for insurance is not the same as having enough insurance coverage!
In response, DIYInsurance, has written an e-book, The Case of Term vs Whole Life Insurance: A Comprehensive Consumer Guide to explain the stand of advocating for term insurance for consumers.
The must-read informative ebook details the purpose of insurance and how we can plan for our life insurance needs. It also highlights the commissions paid to insurance agents and why commissions from whole life insurance could lead to insurance agents promoting whole life instead of term insurance.
Remember, no one cares more about our money than we do.