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The concept and use of insurance has been around for thousands of years. Permanent Life Insurance as we know it today, has been in use for over a hundred years. One benefit to owning a Whole Life Insurance Policy, is that it naturally comes with built in protection.
Permanent Life Insurance is a type of asset that provides a safeguard for your money, as you reinvest your cash value into other performing assets. If the stock market is where you like to earn a passive income, you can invest with your cash value; which can buffer the stress that comes with market downturns and volatility.
In addition to enhancing your investment strategy by protecting yourself with Whole Life Insurance, this cash value asset can also be protected from creditors. Though exemption laws vary from state to state, typically cash value insurance is one of the few assets protected from divorces, lawsuits, or even bankruptcy.