I know that life insurance is not a good investment strategy, but a couple years ago I had no investments and began to think about my future (ok, I was getting deployed for the first time and had extra money and thought it would be a good idea.) Granted, I am getting higher interest payments than I was initially promised, I keep thinking that mutual funds or bonds would be a better investment than universal life.
Does anyone know how I would go about transferring the money I have in the UL account into a better investment? What am I looking at as far as a tax penalty? Or am I stuck with this and can only keep paying in?
Any suggestions would be appreciated.
SSG Schwartz