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Single payment life insurance or endowment policy....as Social Security alternative

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veracious
Established Contributor

Single payment life insurance or endowment policy....as Social Security alternative

I am thinking of purchasing  one of these policies for each of my grandkids.

These types of insurance  would mature about the time they enter college.

They could then receive cash  from this policy to use for college expenses.

 

What are your views pro or con?

 

Also, I'm trying to get my grown kids interested in this typy of insurance for themselves because I

feel that Social Security may not be there for them when they reach retirement.

Since my kids are already maxing out their 401K's and Roth accounts they are looking for

something safe.

 

At what age would you consider  such policies.   Would market investing  yield better, safe, results ?

Please share your knowledge .

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but if you do nothing, there will be no result" ~ Mahatma Gandhi
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