With term insurance, the costs are clear. Fact: “Overpriced” is a very generic term. Overpriced compared to what? When you hear words like “overpriced for what you get” or just “overpriced,” always ask, “Compared to what?” People who buy life insurance are primarily looking for one of two things (sometimes both), death benefit or a secure Tax-Free savings program. In the long run, term insurance is not the answer for either scenario.
“Money isn’t the most important thing in life, but it’s reasonably close to oxygen on the ‘got to have it’ scale.” — Zig Ziglar
“Look at the birds of the air; they do not sow or reap or store away in barns, and yet your heavenly Father feeds them. Are you not much more valuable than they? Who of you by worrying can add a single hour to his life?” — Matthew 6:26- 27
Myth #3: If you are smart with the money you have today, and you get rid of your mortgages, car loans, and credit card debt and put money into retirement plans, you don't need insurance 30 years from now to protect your family when you die. Fact: Being a "smart" investor doesn't guarantee that you will be shielded from market corrections. Many investors who were otherwise rather good at investing (i.e., high net worth investors) lost a lot of money in the 1930s, in the '80s, in the '90s, in 2000, and 2008. Many investments dropped by over 40% in 2000–03 and again in 2008. It's true that you might not need a death benefit when you're old and gray, the kids are gone, and your home is paid off. At that point, you might
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