- 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
re: Term or Whole? Insurance
Posted on 4/30/14 at 2:01 pm to GoCrazyAuburn
Posted on 4/30/14 at 2:01 pm to GoCrazyAuburn
quote:
You don't have to be super wealthy to get WL
Yea was wondering about this comment. I mean I got it because I was under the impression it could be used as extra income at retirement. That is basically the whole reason why I got it. Is this not smart? I feel like it made sense when the guy was explaining this to me.
1
Posted on 4/30/14 at 2:53 pm to AUtigerNOLA
That is definitely a reason people get WL. There is not one answer as to why it is used. There are lots of variables that it can come in handy.
However, like you NOLA, one reason I have some WL is so that I have a way to supplement retirement income with something that is guaranteed to grow as long as I keep it. I have insurance that I can have pay for itself if I want to, and get tax free income in retirement. Basically get all my money back plus interest, and still have insurance for estate needs, leaving legacy, whatever. If I remember correctly, you have a similar plan to me. Some WL, some term with the goal to convert when I can, and DI.
As iknowmorethanyou said, impossible to recommend what is best from what is known. I don't even know if $1M of insurance is right for the guy.
However, like you NOLA, one reason I have some WL is so that I have a way to supplement retirement income with something that is guaranteed to grow as long as I keep it. I have insurance that I can have pay for itself if I want to, and get tax free income in retirement. Basically get all my money back plus interest, and still have insurance for estate needs, leaving legacy, whatever. If I remember correctly, you have a similar plan to me. Some WL, some term with the goal to convert when I can, and DI.
As iknowmorethanyou said, impossible to recommend what is best from what is known. I don't even know if $1M of insurance is right for the guy.
This post was edited on 4/30/14 at 2:55 pm
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News