“Insurance is a fabulous product. It is the miracle of compound interest and the law of large numbers combined. If designed and funded correctly, insurance can build significant wealth and provide a meaningful benefit should the insured not live to life expectancy. The most important factor is whether you can fund the policy annually. If the stretch is too far, it might be better to be more conservative. The price tag for terminating a policy early is significant. But that price tag goes away the longer someone holds the insurance.” – Guy Baker
401(k) vs. Life Insurance: Which Is Better for Retirement? | moneygeek
“Many factors must be considered when making this assessment. Some of them are as follows: What is the cost of the insurance? What is the tax bracket for now and in retirement? What is the rate of return on the 401(k) compared to the return inside the insurance policy? Understanding these factors can help determine which strategy is going to work better in retirement.” – Guy Baker