It’s such an honor to talk to paying off credit card debt you.Suze Orman: Oh. Mainly the insurer’s money once you hand it over.BOTTOM LINE? I have to tell you whenever my nose starts to run I feel like Samantha…where I wanna…you know on Bewitched? Not really. It stays with the insurer and you can only borrow it but you must pay it back. That’s it.No other type of insurance tries to combine an investment with insurance other than whole life insurance. I don’t know if you were even born back then where I want to twinkle my little and get that guy out or whoever that friend is and off the face of this Earth.Listen, insurance is not an investment. What can I do for you?Deepak: Well Suze, a friend has recommended that we buy a whole life insurance policy as an investment.Suze Orman: Stop! The investment portion kicks in the second year of your policy. In a retirement account, a piece of real estate, in stocks, bonds, whatever it may be where it absolutely makes sense to you.Do you know that I am a licensed insurance agent. Buy a term insurance policy. Alright how much was it per year?Deepak: FourteenSuze Orman: Fourteen Hundred?Deepak: $14,000Suze Orman: Fourteen Thousand dollars a year?!?!Deepak: …and the idea was largely use it as an investment to put money away to save on taxes.Suze Orman: Ok, just out of curiousity…made my nose itch. Does this friend of yours happen to sell whole life insurance?Deepak: Boy it seems like you’re reading my mind here.Suze Orman: Oh sweetheart that’s not a friend that a sn….I don’t even know %#*#)$! Below is Suze’s conversation with a guest caller which will give you more insight on her thoughts about Whole Life Insurance.Deepak: Hi Suze! Your money is just being wasted. Does that answer your question already?Deepak: It gives me a good sense of what you are thinking.Suze Orman: Alright, how old are you though Deepak?Deepak: 31Suze Orman: How much of an insurance policy? But there is no way a friend would do it.