No one wakes up on a beautiful Saturday morning, stretches, and says 
“there is only one thing that can make this day better…I’m going to find an agent and buy insurance!”
Insurance is not a fun item. It’s not a shiny toy. It’s purchased when necessary. It’s purchased when there is a death nearby which results in a sense of mortality (Life Insurance). It is purchased when Mom or Dad need help (Long-Term Care). It is purchased when there is a new car (auto insurance). And so on… Insurance is usually purchased when an event creates motivation to do so and is “an accident of timing”.
However, there is one kind of insurance that escapes from that corral: “Participating, Non-Direct Recognition Whole Life Insurance”. Why? It’s purchased for its “living benefits” attributes. It has been used for well over a century for wealth accumulation, portfolio stabilization, and income. Many, at all socioeconomic levels,are aware and use it aggressively.
Insurance? Wait, wait…think about this:
If you could design the perfect financial instrument for growing your money throughout your life, what attributes or characteristics would be important?
Liquidity – immediate access to funds for emergency, opportunity, financing big-ticket purchases, etc. with no restrictions or cost to access
Safety – something that is highly rated by third-party rating services
Guarantees on the Principal – I can’t lose it to downside market risk
Guarantees on the Growth – for at least a competitive long-term return that is predictable
History of Proven Consistency with Very Low Volatility – for over 160 years
Tax-Deferred Accumulation – just like a qualified plan or annuity
Untaxed Distribution – unlike a qualified plan or annuity
No Contribution Limit – unlike qualified plans (IRA, 401k, etc.), there is no limit on how much can be contributed per year
No Distribution Limitations
Flexibility
Funding Continuation – in the event of disability
Would avoid probate
Would provide for a multiple of account value – at death to heirs
Income Tax Free – to heirs at death
These attributes of a perfect financial instrument maximize efficiency, control and safety (the “ECS” factor) which creates predictability and security for retirement. If this type of financial product existed, how much of your long-term portfolio would you allocate toward it?
Yes, it’s Insurance…but what it’s called should not get in the way of what it can do for you.