I have owned whole life policies on myself and my wife for several years now and they have been good performers - have done essentially as advertised. I have a large credit line against the cash value in those policies with a bank that specializes in insurance lending. I borrow at prime (4%) against them, I earn about 7-10% within my policy on a pretax basis and then I invest the borrowed funds into hard money lending. So I earn two sources of rate arbitrage.
I also left my corporate job and since I always kept in touch with my personal financial advisor (who I used to buy those policies), I also became a financial advisor myself (I work for the person I used to buy the policies - we specialize in high income/net worth types, and in particular entrepenuers and business owners in all aspects of financial planning, not just insurance).
So sure I would love everyone to buy insurance from me, but more importantly now having seen the producer side of it, I continue to think it is a great product if designed correctly and sold properly. I continue to buy as much insurance as I can on myself and my wife and use it as a means of de-risking my overall net worth over time.
