Insurance Contribution – How does insurance contribute to national saving?

Question about how does insurance contribute to national saving?

Answer about how does insurance contribute to national saving : if people buy whole life insurance policies they are buying both life insurance and an investment vehicle.
The money above what pays for the insurance is the ’savings’ part of the policy and thus increases the national savings rate.
The US national savings rate recently has been negative for the first time in our nation’s history. It means people as a whole are spending more than they are bringing in.
It is a sad harbinger of an impending credit crisis.
Interest rates will soar.
It’s best to try to limit your credit and save more if you can right now.

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