A Financial Bunker for Scary Times
John Girouard writes in Forbes Magazine…
Suppose there was a financial instrument with a track record stretching back 1,400 years; that was so solid it could survive the Great Depression intact; that earned untaxed interest at a competitive rate; that could be borrowed against at will regardless of credit conditions; and that could be used by individuals as well as major corporations and banks as a safe harbor during economic turmoil?
You’d call it a financial bunker for scary times, and you’d be talking about mutual whole life insurance.
Mutual life insurance is making a comeback now that our speculative economy has blown up and financial disaster is driving people away from risk and back to basics.
Mutual or “participating” whole life insurance is the closest thing to owning your own bank. As New York Life has said in its ads, “We’re Main Street. Not Wall Street.”