I found a blog where is saying: p.s. this is totally not my opinion.
“Top Ten Reasons Why Investment In Life Insurance Is A Good Idea”
The first idea :
- Security & Assurance
this is good reason for insurance, it is no reason buy life insurance with investing contract.
- The Debt Issue
“If you have debt that you still need to pay, life insurance guarantees that your debts will be paid. Nobody wishes to hold their families in the position where they have to deal with the financial liabilities you left behind. Life insurance will ensure such a day never comes.”
yes, i agree, but this is just life insurance benefit and you i able to buy just insurance without investing.
- Retirement plans
For retirement plans the best choice “second step pension funds” in Lithuania, in USA are IRA, 401 k .
- Long Term Plans & Dreams
Is this a benefit? Or just a populism?
- No Business Worries
IF it is just insurance maybe yes.
- For Tax Saving
For example, you 30th year old, yours contract for 10 years,
you paying 35 euros /month
It should be 417 euros /annually
every year you can get back 15% . There is about 62 euros.
But after 10 years you pill up maybe 4000 euros which is taxable for 15% 🙂
~ 600 euros for taxes.
The secondly, big amount of taxes takes insurance service.
- A Savings Tool
I agree, it is a tool. I thing this saving tool the worst you can get.
My experience is at life insurance company.
UAB “PZU Lietuva gyvybės draudimas”
I invested in life insurance with investing function as you see from 2014-02-26 till 2018-04-26, few days ago i terminated the contract. The reason you will see on screens attached.
How you see, 21.25 euros investment profit for more then 4 years. My big finance mistake. So, before investing in life insurance with investing tools think twice.
here you are a nice experience one woman about life insurance, but in lithuanian language.