While Life Policy Questions
Hello everyone. I am 35 and starting my actual career with decent income. I have a child and am the only parent in my child’s life. I am considering taking a whole life insurance out. I don’t know much about life insurances but I understand that when properly structured it can accumulate cash value. This is really what I am after. I want to make sure that my child doesn’t have to worry about my afterlife expenses but I also want to be able to accumulate funds without the worries of the market fluctuations. I’ve heard about 10/90 whole life policy and I’ve also considered IUL policy. Can I please get some insight into the best way to reach my goals? Is whole life even something I should be looking into? I would really appreciate your advice and even explanations on policies and benefits. Thank you in advance.