Chapter 10 - Whole Life Policy Illustration - $60 per month for 30 years yields $17,551 - Less than 0% interest!Here is an actual whole life policy. The amount of insurance was $50,000. It promised to build a cash value that would have become $17,551 after 30 years of $60 per month payments. Please remember this number -- $17,551 -- because we are going to come back to it later. The punch line for this policy was the person to whom it was sold was single and did not have any children! Buy Term and Invest the Difference! (And keep your back to the wall when you deal with life insurance agents!)
This work is licensed under a Creative Commons Attribution 4.0 International License.