JSA Financial Group - Financial Fact vs Fiction

Financial Fact vs. Fiction

Financial Fact vs. Fiction

We understand that it can be tricky navigating through the world of financial services. Everyone seems to have an opinion, and it can become difficult knowing what to believe. We've created this series, "Financial Fact vs. Fiction," as a way to present and debunk some of the most popular financial myths.

Fiction: I am always better off if I buy term life insurance and invest the difference.

Fact: One problem with this statement is that some people don't actually invest the difference; thus, they lose out on the potential growth of their investments over time. Furthermore, if you need insurance beyond the term of a previously purchased policy, premiums are likely to be more expensive for similar coverage due to your advanced age. And if your health has changed since you last applied for insurance, you may not be able to obtain coverage at all.

Last Updated: 09/01/2010

These materials have been provided for general informational purposes only and do not constitute either tax or legal advice. For additional information, please consult your tax professional.

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