Agents may try to sell you a cash-value policy as a way to invest for retirement. They’ll tell you that the investing component serves as “forced savings ” (Sure but retirement plans like 401 (k)s force you to save too once you’ve taken the initiative to sign up for them ) They’ll say the money you have building up in your cash-value policy can grow tax-deferred, but money in IRAs and 401 (k)s does too What they won’t tell you is that cash-value insurance is generally a poor investment.
What’s wrong with using insurance as an investment? | CNN Money
August 8, 2022