Hustle speaks to financial adviser Peter Wainaina who busts some common myths he has encountered in his years of practice:Myth 1: I’m young and healthy. I don’t need life insurance. “There are benefits to purchasing life insurance when you are young and healthy because you will pay lower premiums. This affords one the opportunity to lock in lower premiums, and the potential of building guaranteed cash value through whole life insurance,” Wainaina says. Even if the death benefit itself is no longer needed, the cash value could eventually be used to supplement retirement income.

Source: Standard Digital January 27, 2021 06:56 UTC