I am 35, wife is 36. I should already have one, but don't. Is there an investment option with the protection or is it just better to eat it and get a term policy ?

siap, I did a search. Wanted feedback from someone in the business

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Posted by foshizzle

Washington DC metro

Member since Mar 2008

40599 posts

Posted on 2/2/13 at 6:38 pm to thelsutigers

quote:
siap

Not often posted here, it's all good.

I am not an insurance guru, so I will watch this spot. It's my understanding though that the investment option isn't particularly good compared with regular non-insurance investments, but I will hang up and listen.

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Posted by tojoe

Scott

Member since Oct 2010

335 posts

Posted on 2/2/13 at 6:39 pm to thelsutigers

Keep your investments as investment and insurance as insurance unless you have the unfortunate problem of too much income.

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Posted by thelsutigers

Dallas, TX

Member since Nov 2009

3443 posts

Posted on 2/2/13 at 6:51 pm to tojoe

quote:
Keep your investments as investment and insurance as insurance unless you have the unfortunate problem of too much income.

Not too much income but room to contribute more. My company doesn't offer a 401k plan. I do max our IRA's out though. So, just stick with a term policy ?

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Posted by Bayou Tiger

Member since Nov 2003

3657 posts

Posted on 2/2/13 at 7:54 pm to thelsutigers

quote:
So, just stick with a term policy ?

Yes.

But if you are on the fence, get a quote on the monthly rate for a whole life policy versus a term life policy of the same amount. It will completely blow your mind how much more expensive the whole life policy (or whatever variant of this that they call the cash value policy - permanent, universal, etc) will run you each month.

Then you can really compare the "cash value" of just keeping that extra money in your pocket every month.

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