Need advice for a paper in MBA program. What’s the absolute *WORST* financial product you can think of? Insurance, annuities, mutual funds, savings accounts... (and can’t be payday loans)

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Whole life insurance

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This!!

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Auto warranties usually cost vastly more than the value they return over their normal terms (can vary by make and model)

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I'd even go as far as purchasing extended car warranties. It's like purchasing air.

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A reverse mortgage

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What’s that?

car repair insurance and most financial advisors (if you consider their advice as a product)

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Pet insurance

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(Not limited to the types of products above, but those are some general categories). I was leaning towards variable annuities or GAP insurance, but... if you all have had worse experiences, throw em at me

Vision insurance plans

I rather enjoy my vision insurance, thank you. Costs me $24 a year. Yearly eye exam can be a few hundred, plus glasses. 🤓
This is a win for me.

Term life insurance.

If I had to pick. I’d pick whole life over term.

Term life is very cheap early on precisely because 99% of people will outlive the term. By the time you reach an age (50+) when it would make sense to get it, the cost/value really doesn’t make sense.

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