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Originally Posted by RyanNicholson  well it essentially is...since I can cash it in eventually. Basically if I die the beneficiary gets $XXX,XXX, but if I live it will eventually grow to a pretty large sum as long as I never touch it (thats the key). |
Right, my understanding is that you take your premiums and select mutual funds which invest them. It's basically investing, with similar tax advantages to most retirement funds (i.e. your money can grow in the fund without being subject to taxes).
What I don't get about them is what advantage they would hold over a standard 401k/IRA, assuming that you're eligible for one and haven't maxed it out?