Originally Posted by
BobZ
just curious.....do those who think this is a good idea also believe in whole life insurance as a retirement investment plan?
I dont think what the union proposed is a good idea, I do like that it could be “optional”. But, I do believe in the infinity banking system.
One is tax deferred, the other is tax free as far your insurance doesn’t go into Modified Endowment Contract and you don’t let it lapse. The government imposed limits in the late 1980s, because people were sheltering money in them. You can’t pass a line, if you do, it becomes taxable.
Mutual insurance companies have been around before the wall street.