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RE: Going Down that Rabbit Hole of Wealth Building...
I have a whole life policy just for helping my heirs after I’m gone if I’m older than my term life policy allows by then. I’ve never thought of borrowing against it but good to know it’s an option. Though there was an insurance broker who commented on someone’s post recently saying it was a terrible deal.
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Heehee, that may have been my post! I agree, it is a very bad idea if the goal for the whole life policy is to help your heirs... @rollingthunder is absolutly right. Why would you ever borrow against that help for your heirs? It makes no sense.
The way, I've been told makes sense as a vehicle for building wealth a lottle more sheltered from those destroyers than traditional banking