It is often recommended that people buy term insurance for a lower premium cost, and invest the rest of the money. It is said that the returns from your own investment are higher than the ones from the insurance companies.
This sounds attractive and may work well for people coming from a finance background.
As easy as it might sound, the risks are there. For the non-finance people and beginners out there, how should we go ahead with such plans and know what to invest so that we will not end up worse than what we could have had from insurance companies (the surrender value) if we hadn't signed up for term insurance, ie, signed up whole life, limited premium, ILP policies instead?
Simply, how to "invest the rest" like what they said?