Is term life insurance the best value for the money?
142308
Generally, Yes.\n\nWhole life is essentially a combination of Life Insurance and an Investment plan in one package. The rates of return ( due to higher costs) are usually lower than a similar investment without the insurance. So you could very likely get separate term insurance and a separate investment and do better.\n\nOne exception is the case where you do not meet the health requirements for the best term policies. The underwriting guidelines may be looser for the whole life policies. Some companies may also offer a plan where you start at one rating and are automatically upgrated to a better rate after some period of time (i.e. 2 years)
210063
I like the answer provided by "Financial Answer Guy". \n\n(1) You should have some form of protection if anything happens. It is just like you have to buy car insurance. Do you think your life worth less than your car?\n\n(2) You should be aware that there are many forms of insurances and balance between them if possible.\n\n(3) Please check the rating of the insurance company before buying. You don't want an insurance company that disappears when you need the pay out, right?
589000
you can turn your whole life policy into a "Paid up" policy.  Check with your agent or company, this is easy to do.  Generally, whole life is a rip off and generates lovely commissions for the agent that sold it to you.  Term insurance is much much cheaper and provides a much greater death benefit than whole life.\n\nA downside to group insurance is that it goes away if you leave the job.\n\nAnother option for your policy is to stop paying premiums and let it go on an extended term option.  In other words the cash value will be used up over time paying for your 11,000 in coverage, but the covereage will convert to cheaper term.  Once the cash value is used up the policy will terminate\n\nAnother option for your existing wholelife policy is to cash it in and use some of the proceeds to pay for a greater amount of term insurance depending on your need for additional life insurance.\n\nMost people are underinsured.\n\nGawd insurance is WAY boring.
608621
getting a life insurance cover is pretty easy with a good plan \nhowever it may get a bit tricky at times, I suggest you get as much information as possible online on this first,\n\na good place to start in my humble opinion is:\n\nhttp://umgarticles.atspace.com/insurance.htm\n\na couple of years ago I took such a plan, however I made some errors, luckily for you they are all tackled in this article so you cannot make the same errors that i did! ... I only wish the internet was around at that time!\n\ngood luck
112884
Sheer is right. It will depend on your particular circumstances. Contact a financial planner in your area that has insurance expertise. They will be able to help you find the right policy for you. I typically find good value from Principal for white collar/entrepreneurs, Illinois Mutual for Blue Collar/Special Risk and Pro Financial for High Comp execs and atheletes.
851880
I know you are looking for easy answers and this is a tough one believe it or not.\n\nAuto insurance is a hyper competitve market with lots of companies as players.  Many of them are very, very good.\n\nIn factr, there are so many good companies in this market that singling out any one company really does a disservice to all the good ones.\n\nYou have a very common profile and almost any insurer is going to give you a very competitive rate.\n\nYou ought to ask your friends if they've had good service or good experience with any particular companies and start there.
78777
I've been quite successful with the Franklin Templeton family of funds. There are lots of\ndifferent funds to choose based on your risk tolerance.
670040
if you are married and have children and wife or a partner.you need life insurace.now a days best is to get term life insurance.it is cheap and if you are young and have no health problems you can get a great deal on it.but if you are single and plannin to stay like that there is no need for life insurance.check the link below .it is very informative.
536193
i suggest to invest currently in gold as best option or if u want ur investment more secure then invest in insurance unit link plans
207338
No.... it's not tax free.  Best bet: Buy term from a reputable "low load" company & invest the difference. Commisions on Whole Life, Universal Life & Annuities are rediculous.... Look at 20 or 30 year fixed premium term policies as a best bet.........
438673
Only product available that i know of is a "guaranteed issue" life insurance policy from Presidential Life.\n\nYou can get a maximum of $50,000 of coverage, and the death benefit is graded for the first years of hte policy, meaning that if you died in year 1-3, the company pays your premiums back only.  after that, the full death benefit is paid.
997988
For LIFE Insurance, all you need to understand is TERM. That's what your Auto, Health, and Liability are.\nFor AUTO, and HEALTH, see your local Primerica Financial people.
239999
There are actually several different permanent life insurance plans.  Whole life is one, Universal Life is another and Variable Universal Life is yet another.  Term life insurance makes sense for some situations, but permanent life insurance does make sense for others.  I personally have both.  Anyone that tells to buy one type of policy or another without reviewing your situation is no good.  That includes Suze Orman.
4739
It would be a good idea to purchase Long Term Care Insurance at age 60 or older; and not before. The best providers of this type insurance can be found on Dave Ramsey's web site. It's roughly $100 per month.
347153
It is a good idea for several of the reasons listed. It makes me mildly nauseous to read Paydaybutte's answer. IF the financial risk associated with loosing a child was the ONLY reason to consider coverage, that is still a good enough reason, but there are other, more compelling reasons. To say a child is simply a cost and you are essentially better off if they die is simply disgusting,\n\nHere are the reasons to buy coverage:\n\nProtect Insurability - Putting PERMANENT coverage in place now gives your small child the gift of a policy they can keep for the extent of their life, regardless of what happens to their health.\n\nTake advantage of low rates - Just take a look at the rates on a policy for a 10 year old, a 30 year old and a 50 year old.\n\nTaking Advantage of the Tax Advantage - I would recommend a VUL rather than a WL policy for this, but the cash value growing within the policy accumulates tax deferred, and withdrawals can be tax free when structured correctly.\n\nA few have espoused the "Buy Term and Invest the Difference" concept as being the only way to consider. This is very shortsighted. I personally put together a comparison of VUL vs. level term (with renewals) and the VUL ends up way ahead. IF cash accumulation was the ONLY goal then the VUL wins. If you add in cost effective life insurance coverage for life, VUL STILL WINS.\n\nThe important thing to remember is to seek out the advice of a competent financial professional. Check out the website Rich recommended or use the Planner Search feature on the website for the Financial Planning Association. (www.fpanet.org)
861829
Over 50 plans are all well and good, however most do not offer full cover until you have been a Member for over 24 months. If you die before that time you only get your premiums back, not the life sum assured.\nCall a financial Adviser to ask about your own individual requirements. The first consultation is usually free and without obligation (they will tell you over the phone ). He /She may be able to suggest a better option as they can research the whole market not just one company. Good luck
139827
Wow, some really dangerous opinions in here!\n\nLife insurance proceeds are there to provide protection for your dependents in three basic areas:\n\n1) Funds made available to pay final costs (burial, medical bills, etc.) and debts (mortgage, credit cards. etc)\n\n2) Funds to make up the difference between the household income before your death and what it would be following your death.\n\n3) Funds to invest to meet the savings goals you would have been saving for had you not died. (Think children's education)\n\nNot everyone has needs in all three areas and like Lady Death alludes to in her answer, you can accumulate assets to offset these needs. This is referred to as Self-Insuring. In an ideal world, we would all quickly accumulate wealth sufficient to fully protect our families while not accumulating enough wealth to fall afoul of estate taxes. In reality this is not always the case, hence the continued need for life insurance.\n\nWhen you first apply for a policy, you go through an intense process called underwriting. This is when the insurance companies underwriters tak a very indepth look at you health (through blood and urine tests, questioning you, questioning your doctors and requesting information on you from the Medical Information Bureau [Think of the MIB as a Credit Bureau that tracks your health]) and your financial situation to determine IF you are insurable and how much your premiums are going to be.\n\nWhen people say you should only buy term insurance, be skeptical. It is a very unobjective thing to say when they know NOTHING of your situation. Term insurance is an easier sale and some salespeople follow the path of least resistance rather than providing the best objective advice to their clients. Buy Term and Invest the Difference- this assumes that you have the discipline to invest the difference rather than spend it, that you accumulate enough assets to self insure before the term period runs out, and that you don't accumulate too much with respect to estate taxes. Otherwose, you find yourself in the unenviable situation of having to go through underwriting again to put another term policy in force, with premiums based on your then current age, of course. This is particularly bad if your health has deteriorated in some way, jeapoardizing your ability to get coverage. Some may say you could convert the policy to permanent insurance at that point but that negates the tenents of the startegy and why put a permanent policy in place then, having given up all those years when you could have been funding it?!?\n\nMy best advice is to consult a financial planner (AVOID anyone who tells you what type of insurance to get without asking any questions of you and run away from anyone who uses a "multiple of salary" approach to determining your need) and have a survivorship analysis completed. Your planner will educate you on the different types of insurance and develop an insurance portfolio to meet your individual situation. It may be that term insurance is the right thing for you right now; maybe not. For anyone to say it is without the facts is not very intelligent nor prudent.\nGood Luck.