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Mistakes that One Makes with Money IIII
by: Fiasco Mama
According to Suze Orman, one of the biggest mistakes that one can do is using insurance as an investment.

Policies that include an investment component are quite possibly the worst financial deal you can make. The cost of these "cash-value" policies (they come in a variety of flavors including universal life, variable life, and whole life) can be 10 times the cost of a standard term-life insurance policy. That's why insurance agents love to sell them: In the first year of your policy, the agent's commission can be as much as 90% of your premium. Please stick with term insurance. It provides all of the insurance coverage you need to protect your loved ones - at a fraction of the cost.

Source: Suze Orman

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