If you're looking at this as an investment, it's crap. Run the numbers, do the math. Your "investment" portion, is a small amount of what you pay in, on top of a HUGE amount of death benefit. Your effective rate of return is likely to be way, way, way LESS than a straight IRA, if you make careful investment decisions.Im looking into signing up for cash value life insurance . It pays a better rate than regular ira. ANyone out there who is using it already? Is it worth it?
for most people and situations it is a bad idea.It depends what you want your cash value life insurance for. If you are looking to earn quick high returns, everybody that says it is a bad investment could be right and I could agree with them.
If you are looking for long term growth, stability and safety it can still be a good option.
If you are looking for a process that will give you total control on your money, safety and long term growth then you can find nothing better.
The misunderstanding is how you classify cash value life insurance: As an investment you could find better alternatives, as a financing platform there is nothing for you to use that comes close to it.
So if you are looking for a platform to help you grow capital and you are willing to do the work and due diligence using your money to finance your needs and projects, and you invest in what you are an expert in, then you can really benefit from your cash value life insurance policy.
I started as a consumer using the Infinite Banking Concept and have been a practitioner for 7 years.