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re: Life Insurance
Posted on 10/30/14 at 2:29 pm to Count Chocula
Posted on 10/30/14 at 2:29 pm to Count Chocula
Someone needs to give a break down of Term vs. Whole Life for this crowd.
I know whole life has a cash value after a certain point that can be borrowed against or be counted as an asset?
Term is a strict term limit, premium payment. No cash value.
I know whole life has a cash value after a certain point that can be borrowed against or be counted as an asset?
Term is a strict term limit, premium payment. No cash value.
2
Posted on 10/30/14 at 2:32 pm to BoogerOrchard
quote:Im a stockbroker but know a little bit about it. Sounds like Garcia is a life insurance agent and can give you the details.
Someone needs to give a break down of Term vs. Whole Life for this crowd.
Posted on 10/30/14 at 2:50 pm to BoogerOrchard
quote:
Someone needs to give a break down of Term vs. Whole Life for this crowd.
Buy term and put the balance or difference you'd pay for Whole Life into a fund, annuity, safety deposit box, etc. You will start out ahead and end up ahead.
I'd start with $250,000+ even if I was single, and get more later if you need it. You can name your college as the beneficiary if you don't have anyone else to give it to like nieces or nephews for college fund, etc.
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