If an insurance company screws up and loses money on what it thought was a low-risk investment, is it still obligated to pay out your beneficiaries?
Do you believe you are less likely to screw up in this manner than a professional fund manager hired by a multi-million dollar company whose existence depends on accurate forecasts?
Will your heirs and/or creditors find it easier to grab your portfolio or an insurance policy of which they are neither the owners nor the beneficiaries?
If an insurance company screws up and loses money on what it thought was a low-risk investment, is it still obligated to pay out your beneficiaries?
Sure, but if it screws up in a sufficiently epic fashion it won’t have any money to pay to your beneficiaries.
Do you believe you are less likely to screw up in this manner than a professional fund manager hired by a multi-million dollar company whose existence depends on accurate forecasts?
Me? Why, yes, I do.
Will your heirs and/or creditors find it easier to grab your portfolio or an insurance policy of which they are neither the owners nor the beneficiaries?
I don’t know enough of bankruptcy/probate law to answer.
I might also point out that I had said nothing about the wisdom of buying term life insurance. I suspect that, as usual, it depends. For some people it’s a good deal, for others not so much.
If an insurance company screws up and loses money on what it thought was a low-risk investment, is it still obligated to pay out your beneficiaries?
Do you believe you are less likely to screw up in this manner than a professional fund manager hired by a multi-million dollar company whose existence depends on accurate forecasts?
Will your heirs and/or creditors find it easier to grab your portfolio or an insurance policy of which they are neither the owners nor the beneficiaries?
Sure, but if it screws up in a sufficiently epic fashion it won’t have any money to pay to your beneficiaries.
Me? Why, yes, I do.
I don’t know enough of bankruptcy/probate law to answer.
I might also point out that I had said nothing about the wisdom of buying term life insurance. I suspect that, as usual, it depends. For some people it’s a good deal, for others not so much.