I pay an extra 500 on my mortgage payment every month, I am content doing this. It will have my mortgage paid off in 17 years instead of 30. My insurance agent has told me that I would be better off taking that extra money and putting it into a whole life insurance policy with an "enricher" rider, taking the tax benefit of my mortgage interest, and allowing the life ins. policy to grow to a point where it can be used as a pay-off. I have never heard of this before and am certainly confused. Paying off my house is a pretty important matter to me but so is life insurance.
Orignal From: Whole life insurance + "enricher" or extra payments on the mortgage?
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