Did you know that a whole life insurance policy can actually help you make money? It’s true—and it’s a strategy often used by those with higher incomes.

For those seeking life insurance coverage, a term life insurance policy is typically the more affordable and simpler choice. Both Sam and I opted for matching 20-year term life insurance policies through Policygenius during the pandemic.

However, if you’re a high-income earner searching for ways to grow your wealth beyond traditional investment accounts, whole life insurance is worth considering. Once you’ve built a solid financial foundation and are already maxing out your 401(k), IRAs, and other tax-advantaged accounts, whole life insurance could be another tax-efficient way to make money and diversify your portfolio.

Difference Between Whole Life Insurance And Term Life Insurance

Before we dive in, let’s quickly clarify

Keep reading this article on Financial Samurai.