Is My Life Insurance Policy an Investment? Money (09/01/02) p.120; Lee, Jeanne
This article warns consumers about insurance agents who tell them that life insurance is an investment that can grow tax deferred and be tapped into at any time. Fees for permanent insurance can be high and are often not clearly explained by agents, the article says. The advertised tax benefits are not a guarantee, and a policyholder could be penalized for letting a policy lapse by paying taxes on amounts borrowed.