Image via WikipediaYou want to save some money fast? Just take a look at your Life insurance. Most people could not tell you the difference between whole life and term insurance, yet explain to you how a Universal life policy works. The truth is Life insurance is not an investment. You may have been led to believe that by “investing” in a policy you are guaranteed a certain return. In reality the only guarantee is the profit the insurance company in making from your policy. You see, buying life insurance is about insuring a life. If you purchase life insurance with this in mind, term insurance is a great product. Look to your employer through group term insurance as the least expensive. If not available seek an insurance professional that has the ability to shop for the best rates.
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