- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Term or Whole? Insurance
Posted on 4/30/14 at 12:51 pm
Posted on 4/30/14 at 12:51 pm
Which is the suggested way to go-38 yrs old, excellent health, wanting to protect my family and assets.
4
Posted on 4/30/14 at 12:57 pm to Phattie Jet
quote:
38 yrs old, excellent health, wanting to protect my family and assets.
$1M or $2M 30-year term policy. Do not get Whole Life unless you are very wealthy.
Posted on 4/30/14 at 1:46 pm to Phattie Jet
Why not both?
You don't have to be super wealthy to get WL. Yes, it is more expensive than term, but if you are actually investing the difference, you are paying the same amount anyways.
Now, if you are down to getting your death benefit in term and that is all you can spend, or spending that amount in WL, then go term.
Where did you get the $1M number from? Have you don't an actual death benefit calculation? L30 may be a good choice, but a corresponding term 80 policy may actually be cheaper over the 30 years, I'd have to look at the actual numbers, but jus something else to think about.
You don't have to be super wealthy to get WL. Yes, it is more expensive than term, but if you are actually investing the difference, you are paying the same amount anyways.
Now, if you are down to getting your death benefit in term and that is all you can spend, or spending that amount in WL, then go term.
Where did you get the $1M number from? Have you don't an actual death benefit calculation? L30 may be a good choice, but a corresponding term 80 policy may actually be cheaper over the 30 years, I'd have to look at the actual numbers, but jus something else to think about.
Posted on 4/30/14 at 1:53 pm to Phattie Jet
The correct answer is you've supplied an insufficient amount of information so far.
Posted on 4/30/14 at 9:55 pm to Phattie Jet
I'd say do whole to the amount you can afford and term to cover the rest so you are at least getting a little return on the investment
ETA: what I'm saying is a mix of both is good
ETA: what I'm saying is a mix of both is good
This post was edited on 4/30/14 at 9:57 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News