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meansonny
Georgia Fan
ATL
Member since Sep 2012
12894 posts

re: Term of term life expiring
The entire reason that I got involved in the thread was to agree with you that the cash value is not a reason to buy whole life insurance (other than the residual effect that it keeps the cost of whole life insurance lower for the insurance company which keeps the cost lower for the insured)


Ric Flair
LSU Fan
Charlotte
Member since Oct 2005
11195 posts

re: Term of term life expiring
quote:

. Late 50s still need some insurance, what are options?


How much insurance do you feel like you need and why do you need it? Kids still in school/college? Not enough in the 401k? Peace of mind? Does your wife work and earn a good income? Any life insurance through work that you get automatically? Hard to answer the question without knowing the situation.


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TDsngumbo
LSU Fan
Member since Oct 2011
25754 posts

re: Term of term life expiring
I get what you're saying now and yes, that's correct. I was thinking you were trying to say you get both the death benefit and cash value.

If anyone ever takes a look at a whole life insurance illustration and does the math, it's obvious that as cash values increase, the net risk to the insurance company does in fact decrease.

quote:

The entire reason that I got involved in the thread was to agree with you that the cash value is not a reason to buy whole life insurance (other than the residual effect that it keeps the cost of whole life insurance lower for the insurance company which keeps the cost lower for the insured)



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