I don’t understand how to use life insurance as investment strategy

January 31, 2010 3:27 am admin Miscellaneous

I wanted to use a cheap life insurance as an investment strategy for my retirement but I simply don’t get it. I think what I need is whole life insurance since term life insurance runs out after a while and if you didn’t die in the proper time frame you don’t get a dime out of it (not very desirable).

Whole life insurance seems to be connected with some sort of investment which is even tax protected. What I really don’t get is how I finally can get to the money. Do I have to die? Can I on some day terminate the life insurance and get the money back?