Which is the best life insurance term or whole life?
366262
Neither one is better than the other. Each product has their own characteristics. Every person in the market for insurance has their own individual needs. NEVER listen to anyone who tells you to only buy either one or the other. Most people will carry a mix of both. The best thing a person can do is consult with a financial professional and have a needs analysis done.
982281
check out this blog: http://obe231.blogspot.com\nIt explains the different kinds of life insurance.
1146730
Do you want a term policy or a lifetime policy?\nHow much love do you want insured?  The rates vary depending on whether it is puppy love, carnal love, a simple crush, unrequited love, romantic love, familial love or eternal love.  God's love is free and insured by heaven, so we don't cover that.  Is the love you are insuring going to cover just yourself, or another person as well?  Do you want injury protection in case of broken heart?  Do you need medical coverage for injury incurred during love making?  Do you want full coverage or depreciation over time?  I need all these things answered before I can help you.
188706
Many whole life policies will have lapse protection options, one of which is reduced paid up. When premiums aren't paid and a whole life policy lapses with a reduced paid up option, the cash value of the policy is used to purchase as much paid up life insurance as the value will provide for. The amount of coverage will invariably be less than the original face amount of the policy (or "reduced") and no further premiums will be due ("paid up").\n\nAnother option alternative to reduced Paid Up is Extended Term. In this option, the cash value buys a term policy with an equal face amount to the original policy. However, the length of time the policy will be in force (the term) is determined by the amount of cash value in the policy.
1009140
Your focus should be on what if with all this traveling, being overweight, getting older etc, you die.  Is your family taken care of the way that you would want them taken care of?  If you have a new baby, the death benefit is more important than the premium.  Otherwise, it does not make sense to get the insurance at all.  If you think that your risk factors will improve, then you should get a 5 year term now and when the factors change, then get a longer term.  Work with a broker that represents all of the major companies.
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.
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.
609996
Life insurance should only be bought to replace your income if something were to happen to you. Life insurance will not fund your retirement, but it will help your family be financially stress free for awhile. Keep in mind, you should avoid these type of policies: Whole Life, Universal Life, and Variable Life (or any mixture of those sort). Why? They are expensive and the cash value associated with it must be BORROWED if you want to use it. So the type of life insurance you should get right now is a 30 year TERM INSURANCE base on your age. Why? The longer you wait, the more expensive it gets (in any life policy). How much coverage you want is up to how much you think you can afford each month (general rule of thumb is to multiply your annual income by 10 to get the coverage amount).\n\nYou are correct that a ROTH IRA is good way to go to invest for your retirement. I recommend investing in Aggressive Growth Funds. I like Legg Mason Partners Aggressive Growth Fund. It has an average rate of return of 14% in the past 25 years.
898389
Life insurance companies - for whole life policies.  Because they are the WORST insurance deal for the customer, and the most profitable line of business.
298311
Term life insurance is a no frills life insurance policy.  It is a death benefit for a specified period of time.  Unlike other types of life insurance, there is no cash value or investment associated with it.  You pay $x for x period of time for x amount of insurance.  It is the cheapest way to insure someone's life.
1081264
Zero. What happens if you quit or get laid off? You won't be covered anymore. With most life insurance at work, coverage amount is usually LIMITED to double or triple your annual gross income. So, it would be better if you get life insurance on your own because you are young and premium are low. Financial experts believe people should get coverage of ten times your annual gross income.
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.........
747038
The answer is C.  You pay for a certain # of years & are covered during that time.\n\nRon @ InsureMe http://www.insureme.com/landing.aspx?Refby=614505&Type=life
506351
Term: Known as "pure" type of insurance such as car insurance. It offers maximum coverage available for low amount of premium. People buying term know that they do not need life insurance forever because they have less financial obligations to pay off (like mortgages, kids) as they get older. People should consider investing in mutual funds when purchasing term.\n\nCash value: A savings plan attached to a life insurance policy. Also known as whole life, universal life, or variable life. A portion of your premium is going into your cash value and the rest into your insurance. When you decide to use it, you have to borrow it and pay back with interest (keep in mind, interest is kept by the company.. it is not applied to the cash value). Cash value are not good investment vehicles for retirement or for education because they earn an average rate of return of less than 3%.\n\nFinancial experts say you should keep investments separate from insurance because it is less expensive that way and you have better control of your finances.
440644
Yes, I'm surprised you haven't heard of Life Ins. If you live in the US, you will see it on tv all the time, mostly for old people.\nI have life insurance on me for 11 years since I was 15, its more or less a coverage from my mom in case I kick the bucket so she may get money back for the waste that I am. Mom has a policy too since I'm not good at anything =P\n\nAnyways, you won't find people that willing enough to tell you all pertinent information for their policies, because its private, and your rate can tell you everything about your life: how you lived, when you are expected to die. Thats because insurance comapnies have actuaries (math whiz) who calculate exactly when you are going to die, and calculate a premium to charge you estimated until you die.  \n\nBut in essense, people have life coverage to help with post-life expenses, like funeral and taxes. Thats all.
508067
It's a fancy word for cash value life insurance. \n\nI assume that the type of life insurance you are asking for is a variable life insurance. Variable life insurance is where you are death benefit is flexible and it will fluctuate base on how the seperate account performs. Premiums maybe flexible, but if you do not pay, the insurance company will use the separate account to pay. If there is no value in your separate account and you do not pay your premiums, you may risk losing your life insurance.\n\nIf you were to die, your beneficiary will only get the face amount and all the money in the separate account will go to the insurance company.\n\nIf I were you, I would buy term (20 or 30 year term if you are age 25-45) and put away $100 to $200/month into mutual funds.
204721
Equity Index life insurance are permanent insurance policies where the interest rate credited to the policy is tied to a stock market index, much like an index annuity offers.  Indiannapolis Life, Amerus Life are 2 companies that I know of that offer this type of policy..Good luck and don't forget to read the fine print.