For discussion's sake in this thread, I would be more than happy to run some numbers and post them up here so other people might understand how different types of life insurance works, pros and cons of different policies and how they might fit into a person's financial plan.
Not trying to sell anything here, just trying to educate like our Jedi Master.
Personally I would love to hear it from a 'neutral' source.
The cash value policy I bought on myself when I turned 21 is to this day the best investment I've ever made. My financial Advisor back then talked me into it as a "Reverse IRA". Basically taking after tax dollars and investing them into a vehicle that grows tax free while protecting my family at the same time. The last premium payment I made took $2,000 and instantly turned it into a little over $8,000...tax free. I took one out on my wife when she was 30 years old and I believe it's $1500 premium eeks out about $4500 worth of cash value right now. I've tried to go back and buy more of the same many times and due to my age, I just can't make the numbers work to my advantage anymore. I'm 47 years old now and it takes right at 10 years just for the cash value to catch back up to premiums paid. My policy passed that limit between years 6 and 7. The trick is to buy these young from good companies, the only one I trust is Northwestern Mutual Life.
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