What is the benefit of whole life insurance?
My husband and I have been advised to buy a significant amount of whole life insurance as a safe way to invest. We have just started our family and I am a little wary. I am not really sure I understand why it would be better to do this than to invest in bonds, annuities, etc. Any ideas? answers?- Ron has got it right and covers the subject well. I would add that life insurance should be viewed as providing a cushion for the loss of income from one of the married partners. How will the children eat, sort of thing. Enough to keep the boat afloat while things settle down. Term is just right for that. Your advice did not happen to come from someone that makes a living selling such a product, did it? Hmmm
- You do NOT want to invest in whole life. First, your savings are generally going to gain very small interest amounts. Second If somthing happens and one of you p es away, your benefit will not be that large. Third, whole life is expensive and the amount of money can seriously effect a budget, especially for a growing family. Instead of a whole life program you want to invest in term life insurance, and invest the difference. This is where you are only insured for thirty years or so and then the insurance ends. First, term insurance is cheap, it is not going to be a big piece of your monthly spending. Second of all your benefit if one of you dies is much larger, You can get ten times the coverage for less money. Third, you will not need tons of life insurance in thirty years when your children have left the house and made it on thier own. For your savings, simply open a ROTH IRA account. When you make the term insurance payment take the extra money you would have spent on whole life and put it in the ROTH. If you do this you will see significantly more savings when you retire, and it will not be taxed as income when you take it out. This plan will leave you with more money in the long run, and more flexability in the short run
- Life Insurance: They bet you live, you bet you die, I never did like that concept. Regarding WHOLE vr TERM, with WHOLE part of your premium is an investment and you get it back with interest some day. Regarding if the investment part in WHOLE is better or worst than other investments, well, a person would have to see all the details, make umptions about alternative investments, etc. so it is hard to say for me anyway
- do not do whole life insurance. Insurance is not a good mechanism for investing. Buy term insurance only and invest outside of insurance
Knowledge Base
Does term life insurance take into account the combined income of a married couple?
i have seen around the internet that the maximum term life insurance policy allowed for a person in their 20s is usually 20 times their income. however, i was wondering if there are any policies that take into account the combined household income. if a husband and wife both make (life insurance quotes)
What is a good website to compare life insurance quotes?
i am looking for whole life coverage for my mother. i need a plan for about $5, 000 - $10, 000. all the websites where i can compare multiple ones at a time want your phone number and / or email address so they can call. i want to see (life insurance policy)
What are some safe ways to invest other than whole life insurance?
i understand now that term life insurance is the way to go, and then open up a roth ira. we are going to meet with our financial adviser and i would like to do more research, hence i am asking you: what are some other safe ways to invest our (online iife insurance)
Knowledge Base: Life Insurance
Can I convert my Adjustable Life Insurance policy to Term Insurance?
i currently have a $300, 000 adjustable life insurance policy and want to convert it to a $300, 000 20 year term. can i do this or will i have to surrender the policy and start a new policy? i checked my life policy and there is nothing mentioned about (life insurance quotes)
Can my term life insurance rates go up?
if i have already bought a term life insurance plan for 20 years a year ago, and i get a new job which is a higher risk job, will my insurance rate go up? if so how much could it go up by?. read your policy that you signed. how (online iife insurance)
How can my husband open a life insurance policy?
we recently found out we are expecting a baby and need to open a life insurance policy in case something would happen to him so we'd be taken care of. we have insurance that is paid for by his employer. how do we go about getting life insurance? is it (life insurance rates)
What exact is whole life insurance, and how do life insurance companies profit from selling it?
agents are always extremely keen about selling my family whole life insurance instead of term. according to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. however, why would the (life insurance rates)
Can a life insurance company cancel a policy within the first two years of inception if suicide is suspected?
my friend has a term life insurance policy that is less than 2 years old. she entered the hospital recently for a newly diagnosed bipolar disorder and had admitted to thoughts of suicide. within 2 months of her stay and diagnosis, her term life insurance policy was canceled by the (online iife insurance)
Knowledge Base: Whole Life Insurance
What are some safe ways to invest other than whole life insurance?
i understand now that term life insurance is the way to go, and then open up a roth ira. we are going to meet with our financial adviser and i would like to do more research, hence i am asking you: what are some other safe ways to invest our (whole life insurance)
Where can I go to get whole life insurance for my spouse and I?
i am currently with another insurance company but i am not please with them, i would like to know if anyone knows of a company that provides great whole life insurance for adults ages 27 - 40 years old. thank you for any help in advance. you may contact a (whole life insurance)
What exact is whole life insurance, and how do life insurance companies profit from selling it?
agents are always extremely keen about selling my family whole life insurance instead of term. according to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. however, why would the (whole life insurance)
What exact is whole life insurance, and how do life insurance companies profit from selling it?
agents are always extremely keen about selling my family whole life insurance instead of term. according to the agents, whole life is preferable to term since it does not expire and as a result the beneficiary is guaranteed some payment upon the death of the insured. however, why would the (whole life insurance)
What is the best, inexpensive whole life Insurance?
what is the best, inexpensive whole life insurance i can get for myself and my daughter. she is 1, and i am 19. i really need it to be on the cheap side, but have great coverage!. visit free - best - life - insures - comparator - usa. blogspot.com (whole life insurance)
