Boring old whole life insurance is making a comeback, thanks to positive returns during the worst global financial crisis the world has ever seen. According to WSJ.com’s Leslie Scism:
If you haven’t already, you are likely to hear the pitch soon: Whole-life insurance–the fuddy-duddy stuff your grandparents owned–was a shining star during the financial crisis. Massachusetts Mutual Life Insurance Co., New York Life Insurance Co. and others have been playing off the disappointing performance of many competing investments during the financial crisis to boost whole-life policies, which combine insurance with investments. Thanks to conservative investments in bonds, whole life–and its cousin, universal life–delivered positive returns during the financial crisis.
If present trends continue, we’ll soon be drinking Sarsaparilla soda and going to the ‘talkie’ picture shows.