Permanent life insurance

Investing
#1

Hi Jermey,

Hope you’re well. I have question in regards Perm Life Insurance. I’m looking to start investing a chunk of cash thats been sitting in the bank. First time investing. I’ve been speaking w a financial adviser at Northwest Mutual who is advising that I start a mutual fund account. He’s also pushing hard on a permanent life insurance plan. He says that it acts as a investment account which compounds over time, and that its a tax shelter similar to a Roth IRA. Says it’s a safe and conservative investment which will give me a nice nest egg once I retire. I really would love to hear your thoughts on that approach.

thanks so much!!

best,

Scott

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#2

I feel strongly that you should find a different financial advisor, or better yet take a few hours to learn the basics of index fund investing on your own. The person you are talking to is an insurance salesman. I would never invest inside an insurance product. I’ve never seen one that I didn’t hate.

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#3

Thank you, Jeremy! Really appreciate your time in answering my question

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#4

Scott, run as fast as you can. I was in a similar position about a year ago and ended up cancelling within about the first 6 months and losing the money I put in. The advisor is failing to mention the giant commission he’s making by pushing this “product” to you. Term is all you need if you’re interested in life insurance. Invest the rest according the Jeremy’s account priority order

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