Way to Save #54: Don't Buy Whole Life Insurance

Whole life, or permanent life insurance, combines a life insurance policy with an investment account. Unless you’re rich and need a permanent policy to help pay estate taxes, it’s generally a better idea to buy cheaper term coverage and do your own investing separately.

Whole life, or permanent life insurance, combines a life insurance policy with an investment account. Unless you’re rich and need a permanent policy to help pay estate taxes, it’s generally a better idea to buy cheaper term coverage and do your own investing separately.

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