A New Pardigm

Years back, I watched a well-known financial adviser's television show.  At the time, I agreed with their views on life insurance. It was said that whole life insurance (particularly universal life insurance) was a waste of time. I subscribed to the "buy term, invest the difference" mentality.  Then I became a life insurance agent. Now I feel a bit differently about the issue. I still believe that some people should follow that advice. I just don't believe this is for everyone. We should all decide how much risk we are willing to take on [when it comes to investments.] If you prefer investments with more security measures than stock and bonds, then considering universal life insurance is not a bad thing. Universal life offers guaranteed minimum interest. In addition, cash values grow tax deferred. In the future people will be thinking more about the long-term growth of money, not the new millennium's need for instant gratification.