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Investment and insurance

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Money Talk > Personal Finance

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augfan77
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Investment and insurance  Reply with quote  

Could you tell me guys what are the advantages of insurance over other investments? Thanks in advance Smile
Post Wed Mar 22, 2006 5:13 am
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financialpeace
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I have to agree with coaster...

life insurance as an investment: Crying or Very sad

high fees, fees, and more fees, limited to very low returns. Basically, every cash value life policy, is a a term policy with an investment tied to it, therefore, the fees are usually higher when you give full responsibility to someone else to make you money, they have an instant conflict of interest on your investment. Not to mention, the premiums are usually very high.
Post Thu Mar 23, 2006 1:20 am
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nkthen
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My financial adviser always advocates:
1) Insurance FIRST
2) Investment SECOND

Reason:
1) Insurance - When you lose your life/limb/health, you get money
2) Investment - When you lost money, you LOSE MONEY

Always get your 'safety net' covered before investments.
Post Mon Mar 27, 2006 11:19 am
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Rolo
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quote:
Originally posted by nkthen
My financial adviser always advocates:
1) Insurance FIRST
2) Investment SECOND



Apparently you are talking about an insurance agent, not a financial advisor.

Investments and insurance are two completely different, unrelated things, no matter how they are packaged.

Cash value/whole life/universal life/etc. are all rip-offs.

"Expect me when you see me."
Post Tue Mar 28, 2006 1:22 pm
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nkthen
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I would say that it is related when you look at the whole picture of a person's financial status.

A person's financial status would include his current earning ability and the future earning ability and usually it can be tied with providing the family.

While it is true that insurance is benefitting others, but you may have forgotten that there are insurance that benefits YOU.

One important one would be accident/hospitalisation insurance. It will benefit you because in the event of hospitalisation, the money outlay can be HUGE.

This is at least true for my country. A week stay in my country's hospital can cost you at least $1000.



And, I think a financial advisor is someone who covers financial aspect, including insurance.
Post Tue Mar 28, 2006 5:28 pm
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