Jul 26
No Load Life Insurance a better deal? Hardly!
It’s a well-accepted fact that in the mutual fund arena, all things being equal, a “no-load” or “low-load” fund has lower expenses, as it saves the cost of a commissioned sales representative. These savings are routinely passed through to the investor/customer in the form of lower fees and, in turn, result in higher returns… more money in your account in the long run!
Assuming you don’t need the guidance of a financial services representative to help you with asset allocation and/or any of the other aspects of choosing a fund, and if you’re willing and able to “do it yourself”, which, while not difficult, requires a bit of self education, you can save some money, earn more money and avail yourself of “the better deal”, if you will.
That being said, all too many so-called financial “experts”, journalists, and advisors who may not be versed on how things work in the life insurance business routinely make the seemingly logical, but INCORRECT assumption that things work the same way with term life insurance as they do with mutual funds. I.e. Do it yourself, find a low-load or no-load life insurance product, and you’ll be on your way to saving money. This is simply NOT the case.
More after the jump…
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