objective source of information. Where exactly do you think one should go to educate them self about it.

And, you just agreed in the post I am replying to that Whole Life is not the best for the masses. That was the whole point.

And the issue about whole life sales people making $$$ is not because they make $$$ per se, it is because they make ZIP - NADA - ZERO if you don’t buy the product they recommend and make $$$ only if you do buy it.

That is called a conflict of interest. In most similar situations, the advisor either is not allowed by law to do this or is required to disclose their conflict of interest.

In healthcare, laws had to be passed, for instance, because doctors were referring patients to home health agencies and hospitals they had ownership in and prescribing unneeded products. Now they cannot own more than 5% or it is fraud. So the truly unscrupulous ones formed home health care businesses where 20 doctors each owned 5% to circumvent this law and all 20 refer their patients to it.

That is why people keep pointing out that the whole life sales people do not have a fiduciary responsibility to the customer.

You are either naive or just being argumentative.

So exactly where do you suggest we all go to get educated about Whole Life?

Here is where I got my education on it.

1. When young I got sucked into listening to a sales pitch. They had my wife join so they could pressure me by asking if I don’t love my wife and children enough to protect them - right in front of her.
2. They tried to recruit me to sell it. That would involve me pressuring every relative and friend I have to buy it.
3. I have an MBA which gives me the skills to understand and evaluate these pathetic products.
4. As a key executive of a $5B revenue company, we received financial advice and tax and estate planning services from one of the Big Accounting and Consulting firms - and they did not sell products.
5. Hearing the experiences of friends and family that got sucked into whole life policies and annuities and regretted it and why they regretted it.
6. I read business articles like the ones you dismiss.
7. My Dad had a couple of these. Paid both of them up fully and they were in his estate when he passed. Pathetic returns and the growth part was taxable - the only taxable thing in his estate.

Oh - and 8. Will be as soon as you tell us why Whole Life is good for gen pop and where we should go to further educate ourselves.

The danger of educating oneself by sitting through a high pressure sales pitch is that most of the masses do not have a business or finance degree and are not skilled enough to fight back when the BS comes. These people should pay an independent financial advisor for financial advice - one who will sign a statement that they are not compensated by others selling products.

Or, go to someone you trust who is not involved in selling any of this stuff, but who has experience similar to what I described above and has figured out how to sock away millions on their own - and ask them what they think about this topic.

But, don’t ask my late father. He had only a high school education even though he died a multi-millionaire - self made. He did not understand life insurance at all. His money came from running his gas station and auto shop and accumulating real estate as a result.

Don’t ask my late grandfather. He was also a high school graduate only and did not understand life insurance. He made his millions working for the electric company on night shift monitoring the power plant at the mouth of Provo Canyon - but, by day - built a small motel, built 3 four plex apartments, built the gas station my Dad bought from him, built 2 trailer parks, etc. yes. Real estate.

Maybe the finance majors in here can quote from the text books the Marriott School had them read.

Whole Life Insurance has limited applicability that does not apply to gen pop.