One question that we seem to get repeatedly is, “Should I put all of my emergency fund into a whole life policy?” The first few times we got this question we figured maybe it was just coincidence?
But, after having been around ye olde interwebs for over five years now, and talking to over 1000 people who've actively engaged us in conversations specifically around using whole life insurance as an asset, we discovered there are multiple sources of this “advice”.
Or at least multiple sources that are responsible for planting the seed.
There's also the corollary which suggests to people that using whole life insurance as an asset is a great idea for everyone!
On the surface, it doesn't seem like a bad idea. But as usual we've got an opinion that probably doesn't align with the proprietors of this over-simplified advice. Shocker right?
When is it appropriate to use whole life insurance as an asset? Who is it appropriate for? What scenarios represent a “best use” case?
Ahh…you'll have to listen to find out!