Whole life insurance provides some of the best tax and financial planning benefits to the wealthy--it just comes at the expense of poorer individuals
"And their core demographic are people who can’t afford to pay much, but can easily be sold something they don’t understand."
This absolutely occurs in the HNW segments as well. Structured products come to mind. I think reading tea leaves would be more straightforward!
Haha true. I have a lot of well-educated friends who have bought products they don't understand. But it's partly because they knew other people who bought it and had FOMO.
"And their core demographic are people who can’t afford to pay much, but can easily be sold something they don’t understand."
This absolutely occurs in the HNW segments as well. Structured products come to mind. I think reading tea leaves would be more straightforward!
Haha true. I have a lot of well-educated friends who have bought products they don't understand. But it's partly because they knew other people who bought it and had FOMO.