Fact vs. Fiction Archive

Fiction: I would be better off buying term life insurance (rather than whole life) so that I can invest the difference.

Fact: One problem with this idea is that many people don't actually invest the difference, losing out on the potential growth of those funds over time. Furthermore, if you need insurance beyond the term of a previously purchased policy, premiums are likely to be more expensive for similar coverage due to your advanced age. And if your health has changed since you last applied for insurance, you may not be able to obtain coverage at all. It's wise to discuss your options with a financial or insurance professional.




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