As I’ve said before – Life insurance makes a lousy investment and investments make lousy life insurance. If you do not have a need for life insurance and are holding it purely as a savings plan, you are still paying for the cost of the insurance portion of the package, even though it may not be fully disclosed. There are far better ways of saving money.
Solution: An Interest-Adjusted Cost Analysis (IACA). It sounds like a complicated concept and, often, I even have problems saying it clearly. Once you see it presented clearly to you, you will see it as a thing of beauty – to be able to evaluate the “today cost” of your current insurance plan versus different alternatives.
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