In contrast to products such as whole life insurance, health insurance pays brokers fairly modest commissions--generally 10% or so of the premiums--every month.
Mutual whole life insurance, a contract that is a life insurance policy with a savings account attached, is also enjoying a major renaissance.
Finally, they used mutual whole life insurance as a way to safely accumulate a nest egg while simultaneously protecting their families in case of early, untimely death.
Investors make a mistake when they spread their money across whole life insurance, annuities, hedge funds, private placements and other investments with high fees, lockup periods, illiquidity and no public pricing.
Advisors need to do a better job of educating clients about that, and about vehicles like old fashioned participating whole life insurance that shifts the risk in our lives away from us to an institution mutually owned by its policyholders.
FORBES: How Wall Street Unloads Its Risk On Unsuspecting Savers
The problem is buried in the fine print of universal life policies, widely promoted since the 1980s as a new and improved version of the old-fashioned whole life insurance product our grandparents relied on as the surest way to save for retirement.
FORBES: Retirement Disaster Looms For Universal Life Policyholders
Instead of tying up precious cash in investment products that have risk and might not be there for that rainy day or college tuition, advisors should be teaching the value of saving, and showing them all the options, including participating whole life insurance.
FORBES: How Wall Street Unloads Its Risk On Unsuspecting Savers
Is a whole-life insurance policy a better way to escape the estate tax than making gifts every year to your descendants?
Up until the advent of universal whole life, the predominant form of life insurance for the middle class was participating or mutual whole life, where policyholders are treated as mutual owners of a non-public insurance company.
FORBES: Retirement Disaster Looms For Universal Life Policyholders
Many view MetLife as primarily a life insurance company selling a variety of products such as variable, universal, whole and term life insurance policies.
The proper whole or term life insurance can let you get on with the business of living while knowing that should the worst happen, your family is protected.
Andrew Smithers, an independent London-based economist, reckons that, taken as a whole, the life-insurance industry is insolvent.
An increasing number of people have been complaining about the apparent mis-selling of "whole-of-life" insurance policies.
BBC: Whole-of-life insurance: Why complaints are rising fast
Consider life insurance for the whole family, not just the adults.
There are many variations on the permanent life insurance policy, including whole life, universal life and variable universal life.
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