Anyone buy a custom whole life policy as an investment?
So my insurance agent trying to me a life insurance policy for $1.5M and I basically contribute like $30K each year for the next 10 years and then never make a single payment after that. At the age of 58 I am can withdraw the $300K and get my basis out or let it sit and grow my cash value. Grows to like $320k the next year and at like 65 I can withdraw like $500k out. However no matter what I decide I am insured for $1.5M, which would be helpful for my kids. Its another form of investment, but seems like a great strategy.