Life Insurance

yes...email me and I can answer any more questions

rick

safdek23@yahoo.com

To calminvester: Why don't you anti-permanent guys just let it rest? You people are hellbent on spreading your theories. He didn't even ask if he should buy term or permanent.

If you don't want to buy whole life, then don't. But don't come here acting like there is a one "right" way to purchase life insurance. Let people look at both policies and decide for themselves. There are a lot of bad whole life and term policies. Lastly, don't complain when you still want life insurance when you are 60 and uninsurable. It happens a lot more than you think. Things don't go according to your perfect plan.

Regarding commissions, do you work for free at your job, assuming you have one? Does your broker work for free? No.


Alan, my advise is to find a REPUTABLE company and look at both types of policies and DECIDE FOR YOURSELF. To answer your original question, most reputable companies offer convertible term life policies. Good luck with your search. Ignore the BS that will follow this post.

Edit:

calminvestor:

After looking through your post history, you seem to be promoting a book and a website. You make it seem like insurance salesmen are only motivated to sell permanent because of the $$, yet, here you are on our LSU website, promoting your book and website. Who are you working for and selling for?

Whole Life is not bad. Term is not bad.

The biggest thing is where you are in life. If you are 20 and looking to get started, you may want/need one thing.

If you are 40, married with kids, your needs/wants may be different.

If anyone tells you that one is better than the other regardless of the situation, I would hesitate to EVER believe anything they say.

quote:

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Life Insurance
SacredSalami,
It's not a good vs. evil thing. It's which is a better financial decision.

Intelligence points most individuals to term life insurance for this reason:

Term policy - 35yr old = $33/mo
Whole policy - 35 yr old = $70,80,90,...150/mo

Why not pay $33 for term and invest the rest in a real investment like a Roth IRA that has real advantages? Index funds with Vanguard would be a good start with the extra $ you're not using on that crap whole life. Please read "The Smartest Investment Book You'll Ever Read" by Daniel R. Solin. I promise you won't be disappointed.

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Here is my problem with this.....

Most people will never invest the "other" money. Those investments, if made, have not always paid off either.

Don't get me wrong, I'm not knocking your theory. However, as one poster pointed out, Term does run out and depending on your Health, you may have a hard time getting affordable Life Insurance at a later time.

I'm just saying that Whole Life is not always a bad financial decision.

Let's agree to disagree cause my whole life policy has done really well.

It's done well maybe on the short term. Not long term. That's the issue at hand. Where is your money better for the long term. Opportunity cost is a consideration here, for sure.

Those convinced against their will are of the same opinion still. I tried.

I agree no statement can be made across the board some good things about whole life

1) additional paid up insurace...a good place to park extra money (safe from liens, judgements, etc)

2) life ins proceeds go direct to beneficery unlike assets such as investments that go through the estate

3) ever try to borrow money against your term policy?

I feel you should have some of both, much more of term.

tigerpaw123,

1)liens, judgements,etc - why would you have these? on a budget with the proper insurances in place, like a good umbrella policy, why would this be a factor?
2)are you talking taxes? you need a better estate plan.
3)why do you think you need to borrow money at all? you should really read up on why you have insurance. would you ever need to borrow against your vehicle insurance policy? homeowner's policy? general liability policy? what is insurance for anyway? it's unnecessary if you've got a gazillion bucks in the bank, right? it's a form of financial security - not an alternative means of getting a loan. that's what your emergency fund is for.

what's the spread then on your commission on whole vs. term? please educate all of us.